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Rival bid for Tata-Corus deal unlikely
The wheels are turning quickly for Tata Steel's takeover of Corus. After Alliance and Barclay's, now Credit Suisse has offloaded its 3% stake. This only indicates that any rival bid now seems unlikely. As for the rest of the shareholders, Corus has posted a detailed circular on the Tata bid.
The wheels are turning quickly for Tata Steel's takeover of Corus. After Alliance and Barclay's, now Credit Suisse has offloaded its 3% stake, reports CNBC-TV18.
This only indicates that any rival bid now seems unlikely. As for the rest of the shareholders, Corus has posted a detailed circular on the Tata bid. Moving forward, December and January will be busy months with court hearings and EGMs.
That's also the period when the shares of Corus will be suspended from the London and Amsterdam stock exchanges. The Corus ADS will be suspended on the NYSE as well. Corus says it expects the deal to be completed in full and final settlements will be made by the 30th of January.
