Tata turns to FD as Corus merger deal looks likely

Tata Steel, the Indian firm looking to shell out £5.1bn for Corus, is using Financial Dynamics for comms advice as a merger deal looms.

Anglo-Dutch company Corus, formerly British Steel, ­retains Brunswick.

Tata and Corus would, combined, become the world's fifth-largest steel maker. The deal has drawn comparisons with Mittal Steel's Arcelor acquisition (PRWeek's City Campaign of the Year).

Chairman of FD's financial comms practice Andrew Lorenz heads the account.

Tata's parent, Tata Group, India's largest private sector group (it owns 96 firms), retains FD for UK comms.

One company linked with a bid that could scupper the takeover is Russia's biggest steel maker, Severstal. It brought in Citigate Dewe Rogerson in July to take it through its IPO. CDR said it would focus on the listing, not any formal bids.

In June, Severstal used Tulchan Communications and Edelman when it made a ‘white knight' bid for Arcelor (PRWeek, 30 June).

Separately, Barclays Global Investors has taken on FD as its UK comms adviser. The brief is said to be one of the largest for the FD team.

FD partner Andrew Water­worth said FD would increase BGI's news generation, to reinforce its market position.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in