M.P. Board Syllabus For class 3

Ever since the Tata Steel board took the call to sell its haemorrhaging UK assets last month, old Tata Steel hands in Jamshedpur have been heaving a sigh of relief. When the deal was done in 2007, there were many insiders who felt their role would be substantially diminished. After all, the Tatas were buying an entity that was nearly four times the size of Tata Steel. As it turned out, the $12.1 billion Corus acquisition-the biggest global acquisition made by an Indian company-ended up as a millstone around Tata Steel’s neck. And it remains a case study of how not to craft a global merger and acquisition (M&A) strategy Tata Steel had identified a number of potential M&A deals from the US, Europe and Asia. Corus was then a penny stock and available for 10 per cent of the value that Tata Steel eventually paid for it. Apparently, this was the transition period between J J Irani’s reign and before B Muthuraman took over.

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Timing is everything: In the early 2000s, the strategy team at Tata Steel had identified a number of potential M&A deals from the US, Europe and Asia. Corus was then a penny stock and available for 10 per cent of the value that Tata Steel eventually paid for it. Apparently, this was the transition period between J J Irani’s reign and before B Muthuraman took over. And there was no consensus on the globalisation strategy. L N Mittal’s acquisition of Arcelor in 2006 may have galvanised the Tatas. But by then, the commodity cycle was at its peak. And asset prices had zoomed.

Europe and Asia. Corus was then a penny stock and available for 10 per cent of the value that Tata Steel eventually paid for it. Apparently, this was the transition period between J J Irani’s reign and before B Muthuraman took over. And there was no consensus on the globalisation strategy. L N Mittal’s acquisition of Arcelor in 2006 may have galvanised the Tatas. But by then, the commodity cycle was at its peak. And asset prices had zoomed this was the transition period between J J Irani’s reign and before B Muthuraman took over. And there was no consensus on the globalisation strategy. L N Mittal’s acquisition of Arcelor in 2006 may have galvanised the Tatas. But by then, the commodity cycle was at its peak. And asset prices had zoomed. And there was no consensus on the globalisation strategy. L N Mittal’s acquisition of Arcelor in 2006 may have galvanised the Tatas.