Tata buys Corus, largest acquistion by an Indian frim

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Corus accepts takeover bid by Tata Steel

TATA-CORUS: A NEW BEGINNING - Tata Steel MD B Muthuraman, Tata Group Chief Ratan Tata, Corus chairman Jim Leng and Corus CEO Philippe Varin addressed the world media via video conference, which concluded in London a short while ago.


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October 20, 2006 12:51 IST
Last Updated: October 20, 2006 13:44 IST
The board of directors of Anglo-Dutch steelmaker Corus has accepted a $7.6 billion takeover bid from Tata Steel, the two sides confirmed on Friday.
The deal is the largest Indian takeover of a foreign company and will create the world's fifth-largest steel group.
In 2005, Tata Steel was only the world's 56th biggest steel producer and its takeover of Corus represents its first expansion outside Asia.

 

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Tata-Corus: Deal among Top 5
Our Web Bureau / Mumbai October 20, 2006


The $8 billion Tata Steel-Corus deal would be at No 5 among the top deals witnesssed by the steel industry over the last couple of years.

The table is topped by the Arcelor-Mittal Steel deal of $32 billion followed by the NKK Corp-Kawasaki Steel deal of $14.1 billion.


Big Deals:
Target Buyer Amount Year
Arcelor Mittal Steel 32.2 2006
NKK Corp Kawasaki Steel 14.1 2001
LNM Holdings Ispat Intl 13.3 2004
Krupp AG Thyssen 8.3 1997
Corus Tata Steel 8.0 2006
Dofasco Arcelor 5.2 2005
Intl Steel Mittal Steel 4.8 2005

 

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