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Sterlite's Asarco Deal in hot water again

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  • Published On: October 15, 2008
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Copper miner Asarco LLC says its $2.6 billion sale to India-based Sterlite Industries Ltd. is in doubt after Sterlite said it was backing out of the deal. Lawyers for Tucson-based Asarco informed a federal bankruptcy judge in Texas on Tuesday that Sterlite "cannot and will not" close the sale unless Asarco agrees to a price reduction.

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