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Sterlite is not raising offer but it's raising cash component of the offer.
cash payment of $1.58 billion and a deferred payment of $208 million through participatory notes .
Earlier, Sterlite, had offered to pay $1.1 billion in cash and $770 million by way of participatory notes.
What Asarco buy brings is a copper smelter in Arizona, a copper refinery, rod and coke plant and a precious metals plant, both in Texas. And moreover three open-pit copper mines, also in Arizona.
Remember that Asarco is the third largest copper producer in the U.S.The company produced 235,000 tons of copper and reported an EBITDA (earnings before interest, tax, depreciation and amortization) of $640 million and a profit after tax (PAT) of $350 million in 2007.
With copper prices coming backup copper mines looking attractive to both Sterlite and Grupo Maxico.