After winning a multi-billion dollar auction for Anglo-Dutch steelmaker Corus late last month, domestic steel giant Tata Steel expects its scheme of arrangement regarding the takeover to be effective by end of March or the first week of April.
Tata Steel said in a regulatory filing on the London Stock Exchange on Wednesday that it expects Corus to post a revised scheme document to its shareholders shortly, following the announcement of its revised offer of 608 pence per share on January 31.
"Tata Steel now anticipates that the effective date of the scheme of arrangement will be around the end of March or the first week of April 2007," it added.
The Indian giant intends to despatch consideration pursuant to the scheme as soon as practicable following the effective date and if practicable, on the effective