Tata Steel drawn into a bidding war for Corus

CSN tops Tata Steel's latest bid for Corus. Tata Steel shareholders turn bearish sending shares down 6%.

Companhia Siderurgica Nacional CSN of Brazil has topped the bid by India's Tata Steel for Corus UK thwarting the ambitions of the Indian company to become a global top 10 steel industry player and potentially derailing IndiaƆs largest announced MA cross-border acquisition.

From the sequence of events, it seems that CSN was waiting for Tata Steel to table its revised bid to make its own offer. Tata Steel announced late on Sunday that it had increased its offer to...

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