Tata set to increase bid for Corus

Tata Steel is set to increase its offer for Anglo-Dutch steel group Corus to between 490 pence and 500 pence a share, the Hindustan Times reports today, quoting highly placed investment bankers.

The Tata board is to meet on Thursday to discuss raising its bid. Tata earlier bid 455 pence a share for Corus but is now embroiled in a bidding war with Brazilian group CSN. On Friday, it entered the fray with a 475 pence offer.

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