India's Tata Steel outbid Brazilian rival CSN to win the auction for Corus but this may signal start of end of Tata Empire
Special Correspondent
Jan. 31, 2007

The Indian stock market is taking it as a big blow. The Merger mania finally is exposed in India.

India's Tata Steel outbid Brazilian rival CSN to win the auction for Corus with an offer that values the Anglo-Dutch steel maker at $12.1 billion. It was a desperate action by Tata. They needed a European steel maker affiliated to UK to contain Mittal. For the time being, they are successful. But the problem lies with the fact that as the world’s economies go into deep recession in the coming years, Tata Steel with its debt burden can go down more rapidly than the Empire of Mittal.

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The builders were nervous. They got rid of their inventory with attractive prices, incentives and more. Little did they know the economy is in the process of recovery. After a soft landing, the economy is expanding again...
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The inflation is down, GDP is up and the Chicago Purchasing Manager’s index at 52.0 from 51.6 conforms expanding GDP growth rate back to benchmark 3.0.
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India's Tata Steel outbid Brazilian rival CSN to win the auction for Corus but this may signal start of end of Tata Empire
Special Correspondent
But the problem lies with the fact that as the world economies goes into deep recession in coming years, Tata Steel with its debt burden can go down more rapidly than the Empire of Mittal.
READ MORE>>

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Japan leads the world into deflation with wages falling at the fastest pace in 16 months – US and Europe is next but the big one is in India and China
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The biggest deflation story is in economies that are flying with one borrowed engine – India and China. The world depression can wipe these economies out contrary to double-digit expansion for ever.
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Tata Steel Ltd. offered 6.2 billion pounds ($12 billion) in cash for Corus Group Plc, beating Brazil's CSN but CSN is ready with counter offer
Special Correspondent
CSN of Brazil is ready to beat the Tata of India with a bigger offer….
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