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Who will eventually get Corus?
There are reports that Tata Steel may raise its USD 8 billion offer for Corus countering a rival bid by Brazil's CSN. However, experts feel that the prices won't be dramaticaly higher, reports CNBC-TV18.
There are reports that Tata Steel may raise its USD 8 billion offer for Corus countering a rival bid by Brazil's CSN. However, experts feel that the prices won't be dramaticaly higher, reports CNBC-TV18.
"I think we shouldn't presume that Tata will run out of the race. They will sharpen their pencils, CSN will sharpen their pencils, and see what gives them value. It's a constantly changing situation and really to try and guess at what stage it will go is not really there for me to count," says NRI entrepreneur, Lord Swaraj Paul.
Given the cash nature of both bids, the shareholders are expected to go simply for the better offer at face value.
"It doesn't matter to them greatly what happens to Corus once they've got their money. So they don't have to judge, if Tata and CSN were offering shares, there would be much bigger judgments to be made in terms of the companies," says steel expert, Mike Mytton.
The Tata and the Corus management have struck up a good relationship, but in the end that may count for nothing.
"It doesn't matter to them greatly what happens to Corus once they've got their money. So they don't have to judge, if Tata and CSN were offering shares, there would be much bigger judgments to be made in terms of the companies," says steel expert, Mike Mytton.
