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Chardi Kala
<table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td align="left" valign="top"><arttitle>Bhangra outnumbers Samba: Tatas win Corus</arttitle>
SUDESHNA SEN
<artag>EconomicTimes.com</artag>
[ WEDNESDAY, JANUARY 31, 2007 07:23:59 AM]</td> </tr><script language="javascript">var msid=1542134 var mstatus = false; var sUser, cookiestring; function getCookievalue(strcookie) { var ipos = cookiestring.indexOf(strcookie); var ipos2 = cookiestring.indexOf(';',ipos); if (ipos != -1) { if (ipos2 == -1) ipos2 = cookiestring.length; return unescape(cookiestring.substring((ipos+strcookie.length+1),ipos2));} } try { document.domain='indiatimes.com'; cookiestring= document.cookie; cookiestring = cookiestring.toLowerCase(); sUser = getCookievalue('commlogu'); sUserLength = sUser.length; if (getCookievalue('cmssso') =='true') {mstatus=true;} } catch(er) {cookiestring=' '; sUserLength=0;} try { if ((sUserLength > 0) && (mstatus == true) ) {} else { /*document.write('<tr><td valign="top" align="center" bgcolor="#f9eadd">' + 'Surf \'' + 'N' + '\' Earn -' + 'Sign in
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</td> </tr> <tr> <td align="center" valign="top"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td name="bellyad" id="bellyad" class="text" align="center"> <!-- google_ad_region_start=article --> LONDON: And the winner is ......the Tatas. This is it. In the final round of the bidding which went up to over 9 rounds, the Tatas have clinched Corus with an offer of 605 pence versus CSN's last offer of 603 pence, pushing the price war up.
Sources close to the deal said that the deal was clinched in the final ninth round as CSN put in a final bid of 603 pence per share, and the Tatas topped it with 5 pence.
The details of the bidding will be announced soon. According to sources close to the deal, the bidding action was a little slow in starting off, but peaked towards the end.
At the end of a midnight frenzy, at 1 am GMT, the tired but jubilant Tata camp carried off the prize -- Corus.
This pushes the valuation of Corus to way above even the most ambitious predictions, with a valutaion of GBP 6.2 bn fully diluted equity value; adjusted debt of GBP 500 mn, and an enterprise value of a truly whopping GBP 6.7 bn. (Indian Rs 97,600 Crores
)
</td></tr></tbody></table></td></tr></tbody></table>
SUDESHNA SEN
<artag>EconomicTimes.com</artag>
</td> </tr> <tr> <td align="center" valign="top"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td name="bellyad" id="bellyad" class="text" align="center"> <!-- google_ad_region_start=article --> LONDON: And the winner is ......the Tatas. This is it. In the final round of the bidding which went up to over 9 rounds, the Tatas have clinched Corus with an offer of 605 pence versus CSN's last offer of 603 pence, pushing the price war up.
Sources close to the deal said that the deal was clinched in the final ninth round as CSN put in a final bid of 603 pence per share, and the Tatas topped it with 5 pence.
The details of the bidding will be announced soon. According to sources close to the deal, the bidding action was a little slow in starting off, but peaked towards the end.
At the end of a midnight frenzy, at 1 am GMT, the tired but jubilant Tata camp carried off the prize -- Corus.
This pushes the valuation of Corus to way above even the most ambitious predictions, with a valutaion of GBP 6.2 bn fully diluted equity value; adjusted debt of GBP 500 mn, and an enterprise value of a truly whopping GBP 6.7 bn. (Indian Rs 97,600 Crores
)</td></tr></tbody></table></td></tr></tbody></table>
