India aala re : Tata-Corus Now


Written on 12:28 PM by nitesh

Quashing all the media conjectures regarding CSN taking over the Corus, Tata bought corus paying a hefty sum of 608pence per share. As expected both the bidders maintained a cautious approach in the bidding and the whole process continued till decided 9 rounds . Tata ultimately won the battle after CSN backed off after bidding till 603p. Tata raised the offer to 608p and corus was ours. This is a big victory for Indian industry, a giant leap by India i will modify Armstrong words ( One step for man, one giant leap for mankind.) to One step by Tata, one giant leap for the India.

Nobody has expected that Tata would pay such a hefty price for the corus , but sources say that the Tata's bidding process was boosted by impressive quarterly results announced yesterday.

Now we have to see how the synergies between the two companies having total capacity of 19 millions tonnes go.

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