Anyone who has been following the Indian market will not have been too surprised by Tata Steel’s designs on Corus Group (LSE: CS.). Formerly known as Tata Iron & Steel, or TISCO, the company already has steel interests in huge swathes of South-East Asia, Iran, Australia and South Africa. So, an acquisition of Corus will be just another step towards the company’s stated global aspirations.
However, Tata may have to raise its £4b offer for Corus amid reports that Russian and Brazilian steelmakers may be interested, too. Some pundits reckon that it may have to lift its offer from 455p to as much as 580p a share, which will value the Anglo-Dutch steel maker at £5b….