Brazilians top bidding for former British Steel firm

The battle for steel group Corus (formerly British Steel) intensified today after Brazilian firm CSN dramatically trumped a takeover offer from Indian rival Tata.

Mon, 11 Dec, 2006 - 15:59

The battle for steel group Corus (formerly British Steel) intensified today after Brazilian firm CSN dramatically trumped a takeover offer from Indian rival Tata.

The Corus board backed a 515p a share offer worth £4.9bn (€7.2bn) from CSN just hours after agreeing a 500p a share deal with Tata, which valued Corus at £4.7bn (€7bn) .

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CourtsBusinessHeathrowPlace: LondonPlace: USPlace: HeathrowPlace: GatwickPlace: StanstedPlace: DubaiPlace: UKPlace: NetherlandsPerson: BraziliansPerson: Martin SlaneyPerson: Ed BallsPerson: Jim LengPerson: Lakshmi MittalOrganisation: BritishOrganisation: CorusOrganisation: British SteelOrganisation: CSNOrganisation: TataOrganisation: GFT Global MarketsOrganisation: Evening StandardOrganisation: London Stock ExchangeOrganisation: NasdaqOrganisation: BAAOrganisation: FerrovialOrganisation: P&OOrganisation: Associated British PortsOrganisation: HoogovensOrganisation: ArcelorOrganisation: Mittal Steel
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