INDIA'S BIGGEST DEAL CREATES WORLD'S 5TH LARGEST STEEL CO (Tata Steel to acquire the Corus Group Plc for 4.3 billion GB pounds).

(From India Business Insight)

Tata Steel will acquire Europe's second large steel manufacturer, the Corus Group Plc, for 4.3 billion GB pounds to create the world's fifth large steel company with a combined annual capacity of 23.5 million tonnes. The deal, India's largest, is expected to be closed by 15 Jan 2007 and is subject to approval from about 50 percent Corus' shareholders and obtaining 75 percent of shares. Currently, about 49 percent of Corus is owned by UK shareholders, 11 percent …