Wednesday, March 07, 2007

Corus shareholders okay Tata Steel takeover

Shareholders of Corus Group have agreed to Tata Steel's $12 billion takeover of the Anglo-Dutch steelmaker, sealing the largest foreign acquisition by an Indian company.
Investors representing 97% of the shares backed the purchase today, Corus said following an extraordinary general meeting in London. The acquisition is scheduled to take effect April 2. Corus shares will stop trading on exchanges on March 29.


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