Breaking news. Tata Steel has outbid CSN 608 to 515 pence/share to buy Corus Steel for $11.3 billion. That would make the consortium the fifth biggest steel producer in the world producing 25 million tons of steel per year.
After months of bidding and counter-bidding the deal is done! The Takeover Panel (that managed the auction between Tata Steel and CSN) has yet to make a formal announcement.
Jamshedji Tata must be turning over his grave in glee. Our own lovable Tata Steel is now a world player in steel.
Am happy Tata Steel won. Not just because its an Indian company. Also because Tata Steel invented the concept of corporate social responsibility long before it became a self effacing buzz word for corporations of all ilk and kind.