The Anglo-Dutch steelmaker, Corus Group, is to delay a shareholders' meeting in order to allow
Brazil's Companhia Siderurgica Nacional (CSN) more time to consider a counterbid to
Tata Steel Ltd's recent offer.
Corus shareholders had been due to vote on
Tata Steel's offer at an extraordinary shareholders' meeting on December 4. However, Corus said today that they were postponing the meeting until December 20.
“The board has decided to allow CSN some additional time to satisfy its pre-conditions and to determine whether it will put forward a formal offer,” Corus said.