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| Version 0 | Version 1 |
|---|---|
| Tata Steel posts record profits | Tata Steel posts record profits |
| (3 days later) | |
| Profits have headed higher at Tata Steel, the Indian company which has launched a bid to buy Anglo-Dutch steel firm Corus. | Profits have headed higher at Tata Steel, the Indian company which has launched a bid to buy Anglo-Dutch steel firm Corus. |
| The group's quarterly net profit rose to 11.39bn rupees ($228m, £120m), up 5.4% on the same period last year. | The group's quarterly net profit rose to 11.39bn rupees ($228m, £120m), up 5.4% on the same period last year. |
| Increased demand from the world's fastest growing economies, India and China, has pushed up Asian steel prices and lifted Tata's revenue. | Increased demand from the world's fastest growing economies, India and China, has pushed up Asian steel prices and lifted Tata's revenue. |
| Still, the results fell short of some analysts' expectations. | Still, the results fell short of some analysts' expectations. |
| Corus bid | Corus bid |
| Tata's bid for Corus has been accepted by the company's board but is awaiting approval of Corus shareholders. | Tata's bid for Corus has been accepted by the company's board but is awaiting approval of Corus shareholders. |
| If successful, the bid would mark the largest ever foreign takeover by an Indian company, creating a firm which would be the fifth largest steelmaker in the world. | If successful, the bid would mark the largest ever foreign takeover by an Indian company, creating a firm which would be the fifth largest steelmaker in the world. |
| 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. |
| The firm was formed out of the 1999 merger of British Steel and Dutch group Hoogovens. | The firm was formed out of the 1999 merger of British Steel and Dutch group Hoogovens. |