Tata Steel shares under pressure from Corus acquisition

By Danny Khatib on
Linked from http://www.hindu.com/thehindu/holnus/006200702011824.htm --- Shares of Tata Steel continued to be under pressure for the second day today on concerns the company might have stretched itself for acquiring Corus and fell by over one per cent in an otherwise firm market. Tata Steel scrip lost Rs 6.20 or 1.34 per cent to end at Rs 457.75 at the BSE....Tata Steel shares had begun its plunge yesterday after announcement of its victory in the auction for Corus. The scrip fell by over 10...Read Full Story

Tara Steel Acquires Corus for $12 Billion

By Danny Khatib on
Linked from http://www.msnbc.msn.com/id/16924629/ News reports from around the world are marvelling at the massive acquisition for Tara Steel, and what it could mean for India...MSNBC reports the following... --- India's economic ascendancy received yet another confirmation with the news that Tata Steel bagged Anglo-Dutch steelmaker Corus Group (CGA) in a roughly $12 billion deal, which draws to a close a protracted bidding war with Brazilian rival Companhia Siderurgica Nacional (SID), or...Read Full Story