Tata Steel, CSN To Face Auction For Corus Takeover

Jan. 26, 2007
Both companies trying to gain ground on Arcelor Mittal.

Britain's Takeover Panel said Jan. 26 that India's Tata Steel and Brazilian rival CSN must take part in an auction next week to decide the fate of the Anglo-Dutch steelmaker Corus. The Takeover Panel said that the Corus auction would begin January 30, while the winner would likely be declared on Jan. 31 or February 1.

CSN and Tata, steel giants from two major emerging economic superpowers, are currently battling for Corus as they seek to gain ground on global market leader Arcelor Mittal.

CSN's latest bid had valued the group at about 5.8 billion pounds ($11.3 billion), while Tata's offer stands at around 5.6 billion pounds. Both bids include debt worth about 900 million pounds.

Copyright Agence France-Presse, 2007

Popular Sponsored Recommendations

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Beware Extreme Software

Sept. 24, 2023
As a manufacturer, you understand the importance of staying ahead of the curve and being proactive in your approach to technology. With the rapid pace of change in the industry...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

The Executive Guide to Best Practices for Ecommerce Integration

Oct. 2, 2023
Get ready to elevate your post-checkout experiences and thrive in today's unpredictable market. Learn why integration and automation are crucial to run operations more smoothly...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!