**Yet another Indian Company acquiring western corporate to become worlds 5’th largest steel company 1’st being “Arsenal Mittal”
Early reports that has come out of the Corus bidding says that Tata Steel has won with 608 Pence per share.**
It is a corporate battle that will go into history of world business as the most keenly fought takeover bid for control of Anglo-Dutch steel maker, Corus approaches a stormy end.
In this three month campaign the two most reputed international companies have locked horns to take control of former British Steel, Corus. One, Tata Steel headed by Indian business tycoon Ratan Tata. The other is the Brazil’s top notch steel company based in Rio de Janeiro based Cia Siderurgica Nacional SA (CSN).
The trans-national takeover of Corus has gone through twists and turns and the grand finale is in few hours from now as both conservative Ratan Tata and the aggressive Benjamin Steinbruch would make their last round pitch.
While Corus management is widely believed to be in sync with India’s most reputed industrial house, the London-based Take Over Panel set the ball rolling after having ordered an auction spread over ten hours. The highest bidder gets the cake – Corus – and can eat it too.
Now, the biggest question being debated is what could be the right price to pay for Corus, one of the oldest steel companies worldwide. Corus stock is being valued anything from 410 – 560 pence per share. The share price has witnessed a gradual increase following the intense takeover corporate battle came into the open.
Is it worthwhile to pay US $ 10 billion plus for Corus? Both sides – Tata Steel and CSN – have enlisted the support of top banks and financial institutions in support of their bids. Innovative financing means and matrixes are being worked out by financial wizards in this campaign. Both the bidders are right now, weighing their options and how far they can go to take control of Corus. If one goes by the Take Over Panel’s guidelines, there is still scope for a dark horse to emerge in the form of a third bidder in case none of the existing two bidders decide to call it quits or win in the ten-hour auction.
bhai mod waalo move this thread to appropriate section, mehanat karo phal ki na socho 