FOR IMMEDIATE RELEASE --------------------- CONTACTS -------- GRUPO MEXICO, S.A. de C.V. Daniel Tellechea 011-525-574-8483 Eduardo Gonzalez 011-525-574-8422 ABERNATHY MacGREGOR FRANK Chuck Burgess 212-371-5999 GRUPO MEXICO AND ASARCO SIGN MERGER...Grupo Mexico Sa De Cv /Fi • October 27th, 1999 • Primary smelting & refining of nonferrous metals
MEXICO CITY, October 25, 1999 -- Grupo Mexico, S.A. de C.V. today announced that it has signed a definitive merger agreement with ASARCO Incorporated (NYSE:AR) under which Grupo Mexico will acquire ASARCO for $29.75 in cash net per share of ASARCO common stock. Including the assumption of $1.02 billion ASARCO debt, the transaction has a total value of approximately $2.25 billion.
