Tata Steel set to complete Corus buyout by mid-Jan

KOLKKATTA: Tata Steel expects to complete the Corus acquisition process by mid-January ’07, by then it is likely to receive necessary regulatory approvals for its proposed $8.1-bn bid for the iconic Anglo-Dutch steelmaker, reports Our Bureau in

“We have bid for a 100% buyout of Corus, as we want to make it a part of the Tata group. The calendar for the merger process looks like this. An extraordinary general meeting (EGM) is scheduled to be held on December 4 seeking shareholders’ approval for the proposed deal. Following the EGM, the entire process is likely to be completed by mid-January,” B Muthuraman, managing director, Tata Steel, said at a press meet in the city.