Tata won’t bid Corus adieu, hires Rothschild as advisor

The bidders in the hotly-contested race for Corus may not hang up their boots yet. Tata Steel has roped in UK-based merchant bankers NM Rothschild & Sons as financial advisor for the proposed acquisition.

The move, say investment banking sources, will be followed by an improved bid by the Indian major for Corus, topping its Brazilian rival Companhia Siderurgica Nacional’s (CSN) offer of 515 pence per share.
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