Corus board backs bid from India’s Tata

October 23: Shareholders of Anglo-Dutch steelmaker Corus could still reject a takeover offer by Indian conglomerate Tata.
The board has recommended that shareholders accept the £4.3bn (US$8bn) deal, which would create the world’s fifth largest steel producer with crude steel output of 23.5 million tonnes a year, of which up to 1.65m tonnes are tin mill products for canmaking.
But if a better offer hits the table before an as-yet-to-be-set shareholders’ meeting, the Tata bid could falter.

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