Tata-Corus combine eyeing acquisitions?

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Tata-Corus combine eyeing acquisitions?

Barely days after making its intentions known for Corus, there are reports that the combined entity of Tata Steel-Corus seems intent on turning the tables and may make a bid for CSN, Brazil's largest player, reports CNBC-TV18.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS Expect deal to go through by mid-Jan 2007: Tata Steel Tata-Corus union focusses on global strategy: Tata Steel How will the Tata-Corus deal be financed? Little impact of Tata-Corus deal on Indian steel cos: Essar ALSO READ See latest News about Tata Steel See previous management interviews See what other Experts & Brokerages are saying about Tata Steel Tata Steel BSE | NSE 25/05/12 Are Mutual Funds betting on Tata Steel?

Barely days after making its intentions known for Corus, there are reports that the combined entity of Tata Steel-Corus seems intent on turning the tables and may make a bid for CSN, Brazil's largest player, reports CNBC-TV18. But Tata Steel has said that the reports of CSN bid are speculative and not true. 

CSN makes value-added steel and has operations in Latin America, North America and Europe. It supplies to packaging, automotive, home appliance and construction industries.

CSN has capacity of 5.6 mtpa. It also has a fully integrated unit with current capacity of 21.5 mt of iron. The company is planning to double its capacities to 12 mtpa by 2010. CSN also has 42% stake in CVRD, the largest global producer and supplier of iron ore.

If Tata, Corus and CSN come together, then the combined capacities will be 29 mtpa and EBITDA margins would be 19%.