Grupo Mexico raises Asarco bid to US$2.2bn in cash
Mexican miner Grupo Mexico has raised its offer for bankrupt American copper miner Asarco to US$2.2bn in cash and a note for US$280mn. A competing proposal sponsored by India's Sterlite would pay creditors US$1.59bn in cash and a US$770mn note. The deal illustrates the CFW view that significant opportunities are emerging in distressed and bankruptcy M&A.
Mexican miner Grupo Mexico has raised its offer for bankrupt American copper miner Asarco to US$2.2bn in cash and a note for US$280mn. A competing proposal sponsored by India's Sterlite would pay creditors US$1.59bn in cash and a US$770mn note. The deal illustrates the CFW view that significant opportunities are emerging in distressed and bankruptcy M&A.
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