In a landmark deal heralding the arrival of India Inc at the world stage, Tata Steel has acquired Anglo-Dutch steel firm Corus for a whopping $8 billion. Domestic steel players hailed the takeover as a stamp of authority of Indian entrepreneurs in the overseas market. The deal makes Tata Steel the world`s fifth largest steel producer.
In pic: Tata Steel CEO, B Mutharaman, with his Chairman Ratan Tata, and Corus CEO Jim Leng and Chariman Phillippe Varin shake hands at a media conference in London to announce the takeover. (AP)