Tata highest bidder on Corus

31st January 2007, Comments 0 comments

31 January 2007, AMSTERDAM - Indian steel giant Tata has brought out the highest bid on Anglo-Dutch Corus in an auction, British regulatory agency Takeover Panel announced on Wednesday morning. The panel mediates in disputes surrounding takeovers,.

31 January 2007

AMSTERDAM - Indian steel giant Tata has brought out the highest bid on Anglo-Dutch Corus in an auction, British regulatory agency Takeover Panel announced on Wednesday morning. The panel mediates in disputes surrounding takeovers,.

Tata Steel is offering 608 pence per share in cash, which comes to a total bid of 5.75 billion British pounds (just over 8.7 billion euro).

Corus will almost certainly fall into Indian hands now, though the company’s shareholders still have to approve the bid.

The combination of Tata and Corus would result in the fifth largest steel manufacturer in the world.

[Copyright Expatica + ANP 2007]

Subject: Dutch news

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