{"id":10742,"date":"2009-06-04T00:00:00","date_gmt":"2009-06-04T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"third-competitor-files-to-take-over-asarco","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2009\/third-competitor-files-to-take-over-asarco.html","title":{"rendered":"Third competitor files to take over Asarco"},"content":{"rendered":"<p>Daily Territorial &#8211; A third offer to take copper miner Asarco out of Chapter 11 was filed last week in U.S. Bankruptcy Court in Corpus Christi, Texas, by New York City-based hedge-fund manager Harbinger Capital Partners.<\/p>\n<p>The $500 million reorganization is competing for control of Asarco with plans offered by Sterlite Industries, based in Mumbai, India, and Asarco&rsquo;s parent company, Grupo Mexico.<\/p>\n<p>The plan from Harbinger Capital, one of Asarco&rsquo;s largest bondholders, is less than half the other offers but the investment firm says its offer is better because the other two either lack sufficient support from creditors or won&rsquo;t meet bankruptcy court standards. <a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.azbiz.com\/articles\/2009\/06\/03\/news\/doc4a2022be4f4fc331210698.txt\"><\/a><\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.azbiz.com\/articles\/2009\/06\/03\/news\/doc4a2022be4f4fc331210698.txt\">Read Complete Article<\/a><\/strong><\/p>\n<p><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.azbiz.com\/articles\/2009\/06\/03\/news\/doc4a2022be4f4fc331210698.txt\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daily Territorial &#8211; A third offer to take copper miner Asarco out of Chapter 11 was filed last week in U.S. Bankruptcy Court in Corpus Christi, Texas, by New York City-based hedge-fund manager Harbinger Capital Partners. The $500 million reorganization [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[12599,2642,3549,9313,7211,12596,12600,8617,12598,108,4652,37,402,12597,2471,6498,722,11183,12601],"class_list":["post-10742","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-asarco","tag-bankruptcy-court","tag-bondholders","tag-capital-one","tag-chapter-11","tag-copper-miner","tag-corpus-christi-texas","tag-creditors","tag-grupo-mexico","tag-harbinger","tag-harbinger-capital-partners","tag-hedge-fund-manager","tag-investment-firm","tag-mumbai-india","tag-new-york-city","tag-parent-company","tag-reorganization","tag-rsquo","tag-sterlite-industries"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10742"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10742\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}