Battle for Corus heats up

The battle for control of Anglo-Dutch steel firm Corus took another twist on Monday as Brazilian steelmaker CSN increased its offer to 515 pence a share. This values Corus at €4.9bn. At the weekend, Indian industrial conglomerate Tata had upped its bid to 500 pence in cash, beating CSN’s previous offer. Tata said on Monday it would now reconsider its position in the light of the upgraded CSN offer.

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