The Tatas group taking over Corus for $11.3 billion in an all-cash deal is an audacious step . TATA is a revered group known for its ethics, transparency and Leadership qualities. TATA Steel’s is now the 5th largest steel players , whereas Mittal Steel last year Luxembourg's Arcelor buy made Arcelor Mittal the world's biggest steelmaker. TATA has been revered well by UK industries too for ethical and transparent business practices ,where earlier they had brought Tetley Tea. Congrats to group for such an important milestone
Tata may be the biggest company blah blah , but their customer service sucks, im a tata indicom broadband user.
You may be correct while pointing towards a particular service,but let us not take away the great work they have done for their country. The company has never been dogged by any controveries. They have never indulged in any politics . They have always promoted leadership. They have contributed a lot towards the social causes . And above all is now number 1 group in India.
I would like to say congratulation to Indian companies. They have many great success all over the world. Now, we are hearing more about them simply because some of them are getting really big. Congrats to TATA.
tatas have become biggest business house in india and fifth largest steel company in all world with a turnover of approx 22k crore . :d
Corus is the biggest employer around here, and there has been a lot of worry over job security and pensions. Glad to hear Tata is a decent company.
Some interesting facts about the deal: It is the biggest international takeover ever by an Indian company. The debt that Tata Steel has generated for this acquisition, is equal to 9 times its record annual profits. It will be tough to repay the debt, if steel prices go down in next two - three years. Corus actually has three times more steel capacity compared to Tata Steel. It is a case of David conquering Goliath. In 2002 Corus was actual considering buying out CSN (the other bidder in the auction), but in 4 years the tide turned and CSN nearly ended up buying out Corus.
An interesting article in Times Of India today. It's about what all the 12.1$ billion would do in India today. . Read the entire article here.