Bidding war threatens Welsh steel workers' jobs.(News)

From: Western Mail (Cardiff, Wales) | Date: December 12, 2006 | Copyright information

Byline: By Robin Turner Western Mail

A steel expert warned last night that the Welsh steel industry could be finished within a decade as the fight to buy Corus escalates. Yesterday the Corus board backed a 515p a share offer worth pounds 4.9bn from Brazilian CSN just hours after agreeing a 500p a share deal with Indian company Tata, which valued Corus at pounds 4.7bn. Tata said it was 'considering its position' having been ditched, and Corus shares surged more than 5% to 527p as investors gambled on an escalation of the bidding war.

But a grim vision for Welsh steel came ...

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