Vedanta Group firm Sterlite Industries is believed to have increased the cash component in its offer for acquiring bankrupt US copper miner Asarco. This is for the second time in less than 10 days that Sterlite is increasing the cash component for the bankrupt US miner.
Earlier on August 11, the NRI billionaire Anil Agarwal-led company had hiked this part of the offer to $1.58 billion, citing an increase in copper prices. A company official said the re-revised offer now would almost match that of its rival Grupo Mexico’s cash component.