trending Market Intelligence /marketintelligence/en/news-insights/trending/u01_yzeivbzjus5iiz35tg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: Tata Steel makes 350B rupee all-cash bid for Bhushan

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Essential Metals & Mining Insights July 2020

Report: Tata Steel makes 350B rupee all-cash bid for Bhushan

Tata Steel Ltd. has forwarded an all-cash bid of 350 billion Indian rupees to take over the insolvent Indian steelmaker Bhushan Steel Ltd. from its creditors, Bloomberg News reported March 23, citing " a person with knowledge of the matter."

Tata said the same day that its bid was declared successful by Bhushan's creditors, subject to receipt of regulatory approvals, including approval from the National Company Law Tribunal and the Competition Commission of India.

If Tata completes the acquisition by March 2019, it will become the country's largest steelmaker, Bloomberg added.

Live Mint reported the same day that Tata's cash bid comprises 348 billion rupees to the financial creditors and a further 12 billion rupees to Bhushan's operational creditors.

According to previous reports, Bhushan's creditors claimed they were owed 559.89 billion Indian rupees.

Tata's bid for Indian steelmaker Electrosteel Steels Ltd. was challenged by Renaissance Steel India Pvt. Ltd. on grounds that the company is not eligible to lodge a bid due to criminal cases against its U.K. subsidiary, Tata Steel UK Ltd.

Live Mint wrote that cases against Tata in Kolkata's National Company Law Tribunal may create problems for its bid.

As of March 22, US$1 was equivalent to 65.15 Indian rupees.