Brazilian steel firm Companhia Siderurgica Nacional wants to make a rival bid for Corus before the Anglo-Dutch group's shareholders meet on December 4 to consider an offer from India's Tata Steel, a report said.
Corus Group Plc on Friday said it will list 46.8 million additional equity shares for trading on the London Stock Exchange.
Tata Steel is bracing to deliver what investment bankers say will be a knockout punch to its competitor, Brazil's Companhia Siderurgica Nacional
Brazilian steel major makes counter-bid at 4.75 a share.
Tata Steel on Tuesday said it will sell equity shares worth $2.3 billion in domestic and overseas markets, besides $6.1 billion in debt to fund acquisition of Anglo-Dutch firm Corus Group Plc.
Sources close to the situation said the Tata Steel board is slated to discuss the issue at its meeting on April 17.
Anglo-Dutch steelmaker Corus has accepted a $7.7 billion takeover bid from Tata Steel, the largest Indian takeover of a foreign company.
In Murr's book, Rajiv Travers, the child of an Indian mother and English father is abandoned, first to relatives in London and later to the care of his uncle's mistress, Ruth Winters, who lives in a small American town.
Meet Arunkumar Ramanlal Gandhi. The head of the M&A activities in the Tata Group, who called up Tata to convey Tata Steel's victory.
Tata Steel will shell out $4.1 billion out of the total consideration of $12.15 billion for the acquisition of Anglo-Dutch steelmaker Corus.
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.
With Hindi Medium and Angrezi Medium, the "English-medium" actor of independent movies shows she can easily fit into mainstream Hindi movies too.
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.
The NDA will raise its apprehensions in both Houses about the possibility of Shibu Soren government nominating an Anglo-Indian before the March 15 trial of strength in the Jharkhand Assembly, BJP deputy leader in Rajya Sabha Sushma Swaraj said.
The steel-maker will now have to pay 50 basis points more on this tranche of $1 billion with a seven-year tenure.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances