Indian giant Tata pursues expansion path in US

0 Comments | AFP, December, 2006

WASHINGTON (AFP) — Indian conglomerate Tata may be making waves with a planned mega takeover of top European steelmaker Corus, but its biggest acquisition so far has been in the United States, where it is eyeing even more lucrative deals. Tata has offered about 5.6 billion pounds (8.4 billion euros, 11.1 billion dollars) for Corus as its battles with Brazilian steelmaker CSN, or Companhia Siderurgica Nacional, to seize control of the Anglo Dutch firm.

The deal is poised to outsize by 11 times Tata's largest corporate takeover abroad so far -- the nearly 700 million dollar purchase of a 30 percent share of US food and beverage firm Energy Brands Inc in August. But the Indian company shows no sign of relenting from its expansion path in the United States. "We see the United...