Asarco Kitty Grows with Vedanta Bid

Asarco Kitty Grows with Vedanta Bid

Funds

India’s Sterlite Industries has increased its offer for bankrupt Asarco. The company, which is owned by Vedanta, is offering $1.6bn in cash and a $208m copper price participation note. Previously, the company had offered to pay $1.1bn in cash and $770m million via participatory notes. “Higher cash consideration also reflects our offer of cash in lieu of the reduction in value of the copper price participation note from $770m to $208m,” Sterlite says. On July 30, AMC, a subsidiary of Grupo Mexico

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