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
Showing posts with label Tata Steel. Show all posts
Showing posts with label Tata Steel. Show all posts
Thursday, February 1, 2007
Tuesday, January 30, 2007
European stocks flat in early trade, miners fall
European shares were flat to slightly lower in morning trade on Tuesday after a muted performance on Wall Street, while miners including BHP and Anglo American tracked losses in copper prices.
Shares in bid target Corus extended their ascent and rose 0.6 percent to a new seven-year high of 563 pence, ahead of a proposed auction for the Anglo-Dutch steelmaker, with both India's Tata Steel and Brazil's CSN interested suitors.
Read Full Article at Reuters South Africa
Shares in bid target Corus extended their ascent and rose 0.6 percent to a new seven-year high of 563 pence, ahead of a proposed auction for the Anglo-Dutch steelmaker, with both India's Tata Steel and Brazil's CSN interested suitors.
Read Full Article at Reuters South Africa
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