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Tata Steel added over 4 percent intraday on reports of the firm finalising a decision on UK business’ merger by May.
Sources have told CNBC-TV18 that Tata Steel and Thyssenkrupp’s talks are in final stages of price negotiation. The operational due diligence between the firms have been completed.
The merger of UK business is set to include Tata Steel’s largest plant in Port Talbot. A crucial point for the deal to go through is the closure of pension scheme.
The stock has risen over 8 percent in the past one month, while its three-day gain stands at 6.49 percent. At 14:57 hrs, the stock was quoting at Rs 498.15, up Rs 19.60, or 4.10 percent on the BSE. It touched an intraday high of Rs 498.95 and an intraday low of Rs 481.75.
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