The search for size in the steel sector is set to intensify, analysts said on Thursday, with more deals like the merger of Tata Steel and Corus expected in the future as the industry continues to consolidate.
After the €27bn ($35bn) takeover of European steel group Arcelor by Mittal Steel last year, India's Tata Steel agreed to pay €10bn for British rival Corus on Wednesday.
Arcelor Mittal dwarfs it rivals, producing about three times as much as the second-biggest group in the world, Nippon Steel, while Tata/Corus will be either the fifth- or sixth-biggest supplier when the merger is completed.
Read more at FIN24.co.za
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