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India's Tata Steel Ltd maybe in the process of takeover of Anglo-Dutch steelmaker Corus Group

10/17/2006
India's Tata Steel Ltd maybe in the process of takeover of Anglo-Dutch steelmaker Corus Group for 4.1 billion pound ($7.6 billion). This would the largest ever foreign takeover by an Indian company and would follow Mittal Steel's $31 billion acquisition of rival Arcelor earlier this year. The steel industry is under pressure to cut costs and secure precious supplies of raw materials as net importer China now is switches to being a exporter of steel.

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