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| Version 4 | Version 5 |
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| CSN and Tata in battle over Corus | CSN and Tata in battle over Corus |
| (10 minutes later) | |
| Brazilian steelmaker CSN says it has agreed to buy Anglo-Dutch Corus for £4.9bn ($9.6bn), beating an offer from India's Tata Steel made hours earlier. | Brazilian steelmaker CSN says it has agreed to buy Anglo-Dutch Corus for £4.9bn ($9.6bn), beating an offer from India's Tata Steel made hours earlier. |
| Companhia Siderurgica Nacional has agreed to pay 515 pence a share per Corus share, trumping Tata Steel's offer of 500 pence a share. | Companhia Siderurgica Nacional has agreed to pay 515 pence a share per Corus share, trumping Tata Steel's offer of 500 pence a share. |
| A Corus spokesman said the board was recommending that shareholders now accept the CSN offer. | A Corus spokesman said the board was recommending that shareholders now accept the CSN offer. |
| Tata said it was now considering its position after the latest developments. | Tata said it was now considering its position after the latest developments. |
| In early morning trade in London shares in Corus rose 5%, up 25p to 525p. | |
| Increased offers | Increased offers |
| Late on Sunday night Corus had earlier accepted a revised £4.7bn ($9.2bn) takeover offer from Tata Steel. | Late on Sunday night Corus had earlier accepted a revised £4.7bn ($9.2bn) takeover offer from Tata Steel. |
| The offer had valued Corus at 500 pence a share, and a merger would have created the world's fifth-biggest steel firm. | The offer had valued Corus at 500 pence a share, and a merger would have created the world's fifth-biggest steel firm. |
| GLOBAL STEEL PRODUCTION 2005 1. Mittal Steel - 49.89 million tonnes2. Arcelor- 46.653. Nippon Steel - 32.914. Posco - 31.425. JFE Steel - 29.576. Shanghai Baosteel - 22.737. US Steel - 19.268. Nucor - 18.459. Corus - 18.1810. Riva - 17.5356. Tata - 4.4 Source: Metal Bulletin Corus share price | GLOBAL STEEL PRODUCTION 2005 1. Mittal Steel - 49.89 million tonnes2. Arcelor- 46.653. Nippon Steel - 32.914. Posco - 31.425. JFE Steel - 29.576. Shanghai Baosteel - 22.737. US Steel - 19.268. Nucor - 18.459. Corus - 18.1810. Riva - 17.5356. Tata - 4.4 Source: Metal Bulletin Corus share price |
| Corus employs 47,300 people worldwide, including 24,000 in the UK at plants at Port Talbot, Scunthorpe and Rotherham. | Corus employs 47,300 people worldwide, including 24,000 in the UK at plants at Port Talbot, Scunthorpe and Rotherham. |
| It was formed out of the 1999 merger of British Steel and Dutch group Hoogovens. | It was formed out of the 1999 merger of British Steel and Dutch group Hoogovens. |
| Earlier in the autumn Tata had made an informal £4.1bn approach for Corus, but this was then trumped by CSN going to the Anglo-Dutch firm with a £4.3bn takeover proposal. | Earlier in the autumn Tata had made an informal £4.1bn approach for Corus, but this was then trumped by CSN going to the Anglo-Dutch firm with a £4.3bn takeover proposal. |
| Tata chairman Ratan Tata had said any takeover would have been a "defining moment" for the firm. | Tata chairman Ratan Tata had said any takeover would have been a "defining moment" for the firm. |
| The battle for Corus comes amid growing consolidation in the global steel industry. | The battle for Corus comes amid growing consolidation in the global steel industry. |
| With prices and demand soaring, Mittal Steel - the world's largest steel firm - bought European rival Arcelor for $34bn earlier this year. | With prices and demand soaring, Mittal Steel - the world's largest steel firm - bought European rival Arcelor for $34bn earlier this year. |