Grupo Mexico and Vedanta Resources are slugging it out for control over US copper company Asarco LLC. The Wall Street Journal has reported that Grupo Mexico has offered $1.3bn in cash to a court, which is hearing the bankruptcy proceedings against Asarco. Vedanta Resources, which is the holding company for the Sterlite group, has bid higher at $1.7bn but this is a combination of $1.1bn in cash and the rest in notes (fixed income instruments.
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