|
London, Jan 14: With a deadline set by British regulators approaching fast, the market is abuzz with hopes of a fresh offer from Tata Steel for Anglo-Dutch steelmaker Corus this week, a media report said here.
The stock market is anticipating a new proposal from Tata Steel that would trump the 5.9 billion pound offer from Brazil’s CSN, British newspaper The Observer said.
The report cited unnamed sources as saying a new bid was possible this week, although under a timetable set by the UK Takeover Panel, Tatas have until the end of January to decide.
“Some observers believe he (Ratan Tata) is preparing to increase his offer to 550 pence a share, well above the 515 pence bid from CSN chairman Benjamin Steinbruch,” it said.
Tata’s advisers are working to finalise a fresh bid, but the decision will rest with Ratan Tata himself, it added. Corus shares have been trading much higher than CSN’s offer.
—PTI
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2009: The Indian Express Limited. All rights reserved throughout the world
