Corus: The Buyout Battle Heats Up

The $9.8 billion offered for the steelmaker by Brazil's CSN has topped Tata's proposed price, though the Indian outfit may make a counterbid

Shares of Anglo-Dutch steel company Corus Group (CGA) rose more than 5% on Dec. 11 on news that Brazil's Companhia Siderurgica Nacional (SID), or CSN, topped a previous takeover offer for the company by 3%, to $9.8 billion. Rival suitor Tata Steel of India has stated that it has not ruled out a counter-offer, and analysts say the bidding could continue for at least another round.

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