Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Corus sold to Tata

Steel firm Corus has confirmed it is accepting a £4.3bn takeover offer from Indian rival Tata Steel.
If approved by Corus shareholders, it would create the world's fifth-biggest steel firm. Corus employs 47,300 people worldwide, including 24,000 in the UK at plants at Port Talbot, Scunthorpe and Rotherham.The firm was formed out of the 1999 merger of British Steel and Dutch group Hoogovens.The 455p a share offer is below the current price of Corus stocks, which were trading at 474p on Friday. Tata has pledged to pay £126M into the Corus pension fund as part of the deal and will increase the annual contributions to the British Steel fund.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.