David takes over Goliath !!!!
“The only place we want to fly the flag is on the cricket field. Not in our steel plants. And see what India did to England last week – they beat us.”
Well, these are the words of James Leng, Chairman of Corus Steel after TATA Steel acquire Corus for a whopping $ 8 bn. And what a Diwali Dhamaka for India Inc. Is this a sign of coming days of mighty Indian Economy?
Profit/Sales ratio for Corus before acquisition is a meager 4.44%, as compared to 16.8% of the TATAs which is lowest cost steel producer in the world.
Just compare it with Mittal-Arcelor deal, wherein u have lot of resistance from Arcelor and cultural conflicts. Whereas in this case, its like marriage made in heaven where 99 yr old guy from India married 86 yr old girl from England.
And just see what the bride has to say about the groom : “Look, it is clearly an acquisition. We belong to the Tatas.”
I wish we will hear more dhamakas like this. Happy Diwali to all.
Signing Off.....
Profit/Sales ratio for Corus before acquisition is a meager 4.44%, as compared to 16.8% of the TATAs which is lowest cost steel producer in the world.
Just compare it with Mittal-Arcelor deal, wherein u have lot of resistance from Arcelor and cultural conflicts. Whereas in this case, its like marriage made in heaven where 99 yr old guy from India married 86 yr old girl from England.
And just see what the bride has to say about the groom : “Look, it is clearly an acquisition. We belong to the Tatas.”
I wish we will hear more dhamakas like this. Happy Diwali to all.
Signing Off.....
posted by Tarun | 10:28 AM
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