Tata Steel

Fo c u s Tata marque later on Corus Acquisition Tata Steel has acquired the 5th largest vane manufacturer of the world, Corus, scoring over brazil-nut trees CSN at $12.15 billion ( nearly Rs 55,000 crore) in cash, making it the largest acquisition by an Indian company and the second largest in the labor after Mittal Steels $38.3 billion acquisition of Arcelor. Tatas bid of 608p per share, which beat a price from CSN of 603p, was 33.6 per cent higher than its original bid. By rough measures, it exceeded the price paid in other recent industry deals, such as Mittal Steels acquisition of Arcelor last year. In its centenary year of 2007, Tata Steel, a subsidiary of Tata Group, Indias largest private sphere company, was bugger offing to touch the production figure of 7 million tonnes only the acquisition would bring the total capacity of the group to around 23 million tonnes, making it the fifth largest steel producer in the world. The group was in look out for macroscopical overseas acquisitions as the Indian steel producers have limited-to-no options to scupper their bright future by offering its stake to competitors, it would be nothing short of firing at ones own toe, specially when the economy is booming and the potential for steel producers is overwhelming.

At 8 per cent of GDP growth, Indian steel producers are expecting a bright future ahead and hence leaves little accident for mergers and acquisitions between two giants from within the country. For 2015, the production target is send at 30 million tonnes. Tata Steel produced about 5 million tonnes of steel the last financial year resultant March 2006. Sensing the need, Tata Steel started scouting for overseas strawman through greenfield or brownfield projects early this century. The companys global tour began with the announcement of its greenfield ferro chrome plant in South Africa in 2003 at Richards Bay as the possible location. The major aim of this plant was to procure raw material for its India-based stainless steel plant. The... If you want to get a full essay, order it on our website: Ordercustompaper.com

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