Varin chief executive of Corus has supported the takeover
offer by Tata Steel. The Anglo-Dutch steelmaker last month
approved the Tata offer for a friendly merger that would
create the world''s fifth-largest steelmaker. Varin said
the deal could close by January 2007.
Corus''s biggest shareholder, Standard Life Investments,
which has a 7.9-per cent stake, had said at the time of
the announcement of the Taata offer that the price of
455 pence per share did not represent "significant
pointed out that Tata''s bid represented a 26 percent premium
to Corus''s share price over the past 12 months Moreover,
the prospects of a counteroffer, have been receding as
time passes, some analysts believe that the combined entity
could be an attractive takeover target in the future.