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Rediff.com  » Business » Corus shareholders okay Tata Steel takeover

Corus shareholders okay Tata Steel takeover

March 07, 2007 19:10 IST
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Shareholders of Corus Group have agreed to Tata Steel's $12 billion takeover of the Anglo-Dutch steelmaker, sealing the largest foreign acquisition by an Indian company.

Investors representing 97 per cent of the shares backed the purchaseĀ on Wednesday, Corus said following an extraordinary general meeting in London. The acquisition is scheduled to take effect from April 2. Corus shares will stop trading on exchanges on March 29.

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