Anglo-Dutch steel firm Corus is reported to be close to accepting a formal £4.1bn ($7.7bn) takeover offer from Indian rival Tata. Corus encompasses what was formally British Steel. Corus is an international company, providing steel and aluminium products and services to customers worldwide with an annual turnover of £9 billion.
TATA Steel formerly TISCO - Tata Iron and Steel Company Limited) is Asia's first and India's largest integrated private sector
steel company. Tata Steel produces 4 million tonnes of steel, annually. In 2005 the company was recognised as the world's best steel producer.
The company is listed on Mumbai and National Stock Exchanges of India