Asarco and Cyprus Amax Amend Merger Agreement.NEW YORK--(BUSINESS WIRE)--September 28, 1999-- ASARCO ASARCO American Smelting and Refining Company Incorporated (NYSE NYSE See: New York Stock Exchange :AR) today announced that it and Cyprus Amax Minerals Company (NYSE:CYM CYM Cayman Islands (ISO Country code) CYM Cyan Yellow Magenta (color model) CYM Check Your Mail (also: See Your Mail) CyM Cycling Manager (computer game) ) have amended their merger agreement to permit each company to explore all strategic alternatives to maximize value for their shareholders. The companies have agreed that each is free to act independently of the other until 9:00 a.m. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of time) on Tuesday, October 5, 1999. During this period either company may unilaterally terminate the agreement upon payment of the applicable termination fee. The Company said that if the merger agreement is not terminated prior to that Tuesday morning the original terms of the agreement will be reinstated in their entirety. Asarco also said that it and Cyprus Amax have agreed to postpone their shareholder meetings currently scheduled for September 30, 1999. |
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