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Tata-Corus: Spearheading India’s Global Drive to Growth

In: India: Acquiring its Way to a Global Footprint

Author

Listed:
  • Krishna Kumar
  • Kishore Kumar Morya

Abstract

In January 2007, Tata Steel completed the acquisition of the European steel company, Corus Group PLC, for approximately US $12 billion (Tata Steel Europe, 2007). The acquisition was finalised when Tata Steel placed a bid of 608 pence a share, an amount which was 33.6 per cent higher than Tata’s first offer which they made approximately six months before. With the acquisition, Tata Steel became one of the largest global manufacturers of steel; however, a number of analysts believed that it could prove to become a financial burden for the company. This deal was not only the second largest in the steel industry but it was also the largest foreign acquisition by an Indian company. Would a deal this size take Tata to commanding heights in the global steel industry?

Suggested Citation

  • Krishna Kumar & Kishore Kumar Morya, 2012. "Tata-Corus: Spearheading India’s Global Drive to Growth," Palgrave Macmillan Books, in: Suseela Yesudian (ed.), India: Acquiring its Way to a Global Footprint, chapter 5, pages 49-60, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36353-3_5
    DOI: 10.1057/9780230363533_5
    as

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