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Asarco receives competing bid from Sterlife

by Administrator 11. September 2009 03:13

Asarco LLC, which has been operating under bankruptcy protection, received a bid offer from Sterlife Industries Ltd. Friday. The Arizona mining company had previously received an offer from Gruop Mexico.

Sterlife bid $2.57 billion for Asarco, which will provided needed cash for payments to asbestos creditors. The competing offer followed a ruling two weeks ago from a U.S. Bankruptcy judge that recommended that Grupo Mexico be allowed to take control of Asarco.

If your company is considering filing for bankruptcy, contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC, at 480-829-0494.

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