Grupo Mexico to Merge Mining Units in $6 Billion Deal

Grupo Mexico SAB, the nation’s largest mining company, said it plans to merge its Asarco LLC and Southern Copper Corp. units into a single business to save costs after regaining control of Asarco late last year.

Investors would receive 1.237 shares of Americas Mining Corp., which owns Asarco, for each share of Southern Copper, Grupo Mexico said today in a statement. The transaction values Asarco at $5.94 billion, Grupo Mexico said. Americas Mining would list its shares in the U.S. and in Peru after the deal.