The consolidation in the steel industry could continue as scattered reports have India-based Tata Steel considering a bid for Corus Group PLC for around $10.6 billion.
According to reports by India newspapers, Tata, in a statement, "is evaluating various opportunities, including Corus," which is based in London.
If a merger between the two companies takes place, the combined annual steel production would be around 25 million tons, making it one of the top six largest global steel producers.
Corus has been rumored to be an acquisition target over the past several years as the global steel industry has been consolidating.
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