Brazilian steelmaker CSN has emerged as the top bidder for Britain's Corus Group PLC - topping an offer by Tata Steel of India.Companhia Siderurgica Nacional's offer of 515 pence (US$10) per share, valuing Corus at 4.9 billion pounds ($9.6 billion), was accepted by Corus's board, the companies said.
AP reports that the deal would create a company with output of 24 million tons of steel per year. It would also give Corus access to high-quality, low-cost iron ore from CSN's Casa de Pedra mine in Brazil as well fast-growing markets in South America.
