Tuesday, May 20, 2014

Tata Steel acquires Corus

On 31 January 2007 Tata Steel announced its purchase of a 100 percent stake in the course Group, one of the world's largest producers of steel,

at 608 pence per share in all-cash deal, cumulatively valued at US$ 12.04 billion. 

Tata's offer was 5 pence more per share than that of its competitor, Brazilian steel company CSN. The 6.7 billion pounds deal will include 500 million pounds of debt. The Corus Group board recommended the acquisition to their shareholders latter the same day.

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