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Home Steel News Corus Takeover battle in UK
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Corus Takeover battle in UK

19 Dec 2006 14:05 reported by Rupert

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The take over of Corus Group PLC is in a battle between Indian Tata Steel Ltd and Brazilian-CSN. These two companies have offered 4,7 billion and 4,9 billion to bid the Corus takeover project respectively. However, it is revealed the British High Commission of Takeover intents to make moves to Corus’ takeover bid. The intervening of this commission excluded the limitation of 60 days deadline for bidding. However, due to the influence of Brazilian Takeover Code, the shareholders are facing the market uncertainty and the stock value is in instability as well. (Dec. 19)

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