Tata takes over Corus steel


The £ 4.3 billion (Rs. 36,650 crore) deal, the culmination of hard negotiations over months, represents the largest Indian takeover of a foreign company and Tata Steel's first expansion outside Asia. When the Tata-Corus deal is settled, the merged company’s annual production capacity will be 23.5 million tonnes.

But the audacious takeover by Tata Steel of a company more than three times its size has ruffled many feathers — among unions and business opinion-makers. While unions in the UK fear that the change of ownership could lead to heavy job losses, other commentators were acutely aware of the coming power-shift in global business.

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