Corus: Traders Thread, Long or Short (New)

Tata CEO indicates he may raise offer for Corus - report


LONDON (AFX) - The chief executive of Tata Steel Ltd has indicated the
company may raise its offer for Corus Group PLC, which the Indian company is
battling to buy in competition with Brazil's Companhia Siderurgica Nacional
(CSN), the Daily Telegraph reported.
The paper cited a television interview given by CEO Ratan Tata, which will
be broadcast in India on Saturday. He says he would bid up to a price where it
made "strategic sense and does not endanger or jeopardise the strength and
health of our own shareholders".
The Telegraph said the comments are being seen as an attempt to soften up
shareholders, some of whom are worried that the company will overpay.
Tata's 500 pence per share offer was topped by a CSN bid of 515 pence per
share earlier this month.
The two companies have been set a Jan 30 deadline by the UK Takeover Panel
to announce revised offers.