Shares of Corus Group Plc, surged by 1.12 per cent in trading on Friday on reports that Tata Steel may revise its takeover offer, but stocks of the Indian company fell 1.67 per cent on the bourses.
While Corus shares gained 1.12 per cent or 6 pence in intra-day trade on the London Stock Exchange, Tata Steel shares closed 1.67 per cent or Rs 7.95 down at Rs 467.60 on the Bombay Stock Exchange.
Reports in the Indian media said on Friday that Tata Steel may revise its takeover offer to up to 600 pence a share, valuing Corus at over $11 billion.
Brazil's Companhia Siderurgica Nacional SA has currently put a top bid of 515 pence.