Corus: Traders Thread, Long or Short (New)

Tata may lift bid for Corus by 7% to 10%: Business Standard

By Robert Daniel
Last Update: 1:44 AM ET Jan 2, 2007


TEL AVIV (MarketWatch) -- Tata Steel is close to boosting its 500-pence-a-share bid for Anglo-Dutch steelmaker Corus Group (CGAcorus group plc sponsored adr
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UK:CS ) by 7% to 10%, the online edition of India's Business Standard reported. That would mean 535 to 550 pence a share for Corus, compared with a current bid of 515 pence a share from Brazil's Cia. Siderurgica Nacional, or CSN. (SIDcompanhia siderurgica nacion sponsored adr
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SID ) Citing sources close to the developments, the paper said Tata could sweeten its bid by offering to contribute more to Corus's pension plan than CSN has proposed.