3.8 billion dollar company (in sales) TATA STEEL is planning to buy a large stake in the 18 billion dollar company (in sales) CORUS. This deal between India’s largest private sector steel company with world’s seventh largest steel major will bring Tata Steel into the ranks of the world’s top 10 steelmakers. It would be the second largest deal in the steel industry after the merger of Mittal-Arcelor. This deal would meant for the benefit of both, it would increase the geographical reach of Tata Steel with presence in more than 40 countries including UK, Germany, Netherlands and on the other hand it would cut down the production cost of Corus which is rising sky high as it does not possess any Iron Ore mines. It is believed that the merger would be a tough task for the Tata Steel as many big players have shown their interest in this British Company in the past and may do that in present. -(Source ET)
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