Grupo Mexico Scraps Mining Merger

Grupo Mexico Scraps Mining Merger

Mexico Peru M&A

Mexican miner and railroad operator Grupo Mexico has decided to scratch a planned merger of its two subsidiaries, the US-based American Smelter and Refining Company (ASARCO) and the Peru-based Southern Copper Corporation. As originally conceived, the deal would have involved an all-stock exchange where Southern Copper shareholders would replace their holdings with common shares of the American Mining Corporation, Grupo Mexico’s holdco that controls ASARCO. Both mining subsidiaries had hired

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