I have never written a journalistic post in this blog before. But I couldn't resist myself from writing about today's historical event. After lots of speculations and anxious waiting moments, Ratan Tata emerged as the winner in the auction for Corus Steel, a company three times as big as Tata Steel. Tata Steel is now 5th largest Steel company in the world!
Here is the story !
http://www.ibnlive.com/news/tata-steels-big-deal-wins-corus-as-csn-withdraws/32441-7.html
I can imagine the whole auction to be as interesting as a thrilling movie scene with an emphatic win for the hero in the end! Ratan Tata has proved himself a true Indian hero.
The nitty-gritty of the deal is pretty complex and very interesting too. Tatas started their bid with around 400 something pence per share and they seemed winners initially. Then the Brazilian steel company CSN jumped into the game and offered 475 pence per share to Corus. After a few increases in bids from both the companies, the issue ultimately reached Auction house in which Tatas overpowered CSN with giving a final 608 pence bid, amounting to $11.3 bn! CSN backed off from the fight and Tatas were announced winners.
What an amazing end to a courageous feat! "Fortune favors brave" - the saying was proved correct again. This was the biggest take over done by any Indian company in the history of India.
Ratan Tata - The businessman of the year
http://www.ibnlive.com/videos/31915/indian-of-the-year-tata-biz-boss.html
Posts
No comments:
Post a Comment