Proposed offer from Tata Steel would value UK-based steel firm at 拢5.4bn

Steel giant Corus has confirmed its has received a takeover approach from India鈥檚 Tata Steel ending weeks of speculation.

In a statement to the stock market today, Corus said it has received a proposal regarding a possible recommended offer with a value of 455p per share in cash.

The offer values the company at 拢5.4bn. However, there is no certainty that a final offer would be made, the company said.

Corus鈥� shares were trading at 478p per share this afternoon

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