With a bid of 608 pence a share, Indian corporate giant Tata Steel outsmarted CSN's 603 pence a share offer during the night-long auction process.
Do you think this acquisition further fortifies the belief that India is a rising giant? Are you happy with the Tatas managing to beat Brazil's CSN to buy Corus? Do you think the Tata Group is set for big growth in the future? Tell us.
The nine-round auction called by the UK Takeover Panel to decide the winner between the two suitors began at 2200 hrs Indian time (1630 hrs GMT) and will end the slugfest that has been on for three months.
With no final offers forthcoming from Tata Steel and CSN -- the two suitors for Corus -- the UK Takeover Panel has decided to put the Anglo-Dutch steel maker under the hammer on January 30.
Varin was unlikely to stay if CSN wins, while he would hold onto his position if Tata manages to acquire the company.
Tata Steel, which is bidding for steel maker Corus, is close to sweetening its offer for the Anglo-Dutch company, but could wait until the deadline set by regulators next week
While the fight between Tata Steel and CSN over Anglo-Dutch steel maker Corus continues, experts feel there is still time for a third suitor to put in bids ahead of a deadline set by the regulators.
The panel may also decide on a sealed process where bidders' offers are final, or a standard auction held over a period of days.
The battle for Anglo-Dutch steelmaker Corus is set to intensify with the UK takeover panel mulling over a rare intervention by arranging an auction between the two bidders - India's Tata Steel and Brazil's CSN.
Anglo-Dutch steel company Corus, currently in the midst of a takeover bid by India's Tata Steel and Brazil's CSN, has been fined more than three million pounds for breaching health and safety laws at a factory where an explosion killed three workers
Even as Tata Steel mulls over its next move in the race for Corus Group, its rival suitor Companhia Siderurgica Nacional
In its first official comment on the Corus deal since a rival bid came up, Tata Steel said on Tuesday that its offer for buying out the Anglo-Dutch steelmaker remains valid in spite of a counter bid from Brazil's CSN.
Corus postpones EGM and court meeting over Tata Steel's takeover bid to December 20 from December 4 to give more time to CSN.
The stage appears set for a battle royale between Indian corporate giant Tata Steel and Brazil's CSN for acquisition of Anglo-Dutch steel maker Corus, with both the suitors reportedly willing to raise their bids.
Bankers familiar with the development said CSN, which announced on Friday that it might trump a 455-pence-a-share offer from Tata with a bid worth 475 pence, was prepared to offer "much more" for Corus if needed.
The Tata Steel board will meet shortly to take stock of the situation arising out of Brazilian steel-maker Companhia Siderurgica Nacional's move
The acquisition of Anglo-Dutch steel company Corus by Tata Steel is expected to be completed by middle of January 2007.
Tata Steel was prepared to make a hostile bid of £4.2 billion (nearly $7.79 billion) if its favoured option of a friendly merger was rejected, the UK newspaper reported.
Hind Lever Chemicals is considering merging with Tata Chemicals Ltd, the Bombay Stock Exchange said on Wednesday.
The steel-maker will now have to pay 50 basis points more on this tranche of $1 billion with a seven-year tenure.
Final bid expected to be placed in a fortnight.
The Anglo-Dutch merger was meant to revive the ailing British Steel which had incurred a net loss of 81 million in the year ended March 31, 1999
Anglo-Dutch oil giant Shell will begin auto fuel retailing in India by the end of 2004, Shell India Chairman Vikram Singh Mehta said in New Delhi.\n\n\n\nShell has a licence to set up 2000 \n\n
India's largest oil producer Oil and Natural Gas Corp will launch its new logo on August 14, the ONGC Day.
Royal Dutch/Shell Group plans to grow its natural gas business relative to its oil assets and intends to supply gas to the United States, the Wall Street Journal reported on Tuesday.\n\n\n\n
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, said on Thursday that it will acquire Anglo Dutch oil giant Royal Dutch/Shell's entire 50 per cent stake in an oil block in Angola for about $600 million.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation, is in talks with Royal Dutch/Shell to acquire half of the Anglo-Dutch giant's 50 per cent stake in an oilfield in Angola.
The Tata Group had acquired its UK steel operations as part of a 6.7 billion pounds acquisition from Anglo-Dutch steelmaker Corus in 2009.
Hindustan Unilever Ltd, the Indian unit of Anglo-Dutch consumer group Unilever Plc, reported an 18 per cent rise in quarterly profit, beating estimates, helped by a revival in consumer spending.
After a strict lockdown impacting sales, India has returned to the growth path again, Anglo-Dutch FMCG major Unilever has said. The return of growth of India business, along with Brazil and continued recovery in China, helped the company's emerging markets clock a growth of 5.3 per cent in the September 2020 quarter.
As Unilever's COO, he is expected to take significant load off CEO Alan Jope, pushing growth across markets and driving go-to-market activities.
Consumer goods major Hindustan Unilever on Monday posted a 21.91 per cent increase in net profit to Rs 1,062.31 crore in the quarter ended December 31 on robust sales across businesses.
He is a member of the Board of Directors of Whirlpool Corporation, Pearson and Qualcomm Incorporated.
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances