That’s a lot of potential cash lost by the Tata group by being stubborn. Cash, that could have come in very handy, now that Tata Steel faces a war of attrition over the attempted takeover of Corus Steel. Even here, it does appear as if Ratan Tata and his team have jumped the gun too early and possibly face yet another strategic defeat. In October 2006, there was an official announcement that Tata Steel had made a takeover bid for Corus by off ering 445 pence per share of Corus. The entire deal was valued at about $8 billion. Th ere were nice photographs showing Ratan Tata and Tata Steel CEO, B. Muthuraman, grinning broadly with Corus managers beaming at them.
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Source : IIPM Editorial, 2006
An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative
