Radhe Shyam

  

Happy International Women's Day

March 8th commemorates women's rights and peace

The United Nations' theme for International Women's Day in 2007 is "Ending Impunity for Violence against Women and Girls."


  

Nitai Gaura

  

Happy Holi -3rd-March-2007

  

Tatas beat Brazil's CSN to acquire Anglo-Dutch steelmaker Corus Group The Tatas beat Brazil's CSN to acquire Anglo-Dutch steelmaker Corus Group Plc

The Tatas beat Brazil's CSN to acquire Anglo-Dutch steelmaker Corus Group Plc at slightly more than $11 billion.

With a bid of 608 pence a share, Indian corporate giant Tata Steel outsmarted CSN's 603 pence a share offer during the night-long auction process.

CSN officials confirmed pulling out of the race to acquire Europe's second-largest steel firm after a final offer of 603 pence a share. Tata officials remained tightlipped.

Tata Steel raised its final offer to 608 pence a share by the time the auction entered the concluding ninth round from 500 pence a share at the start of the auction.

The company also stated that it will shortly seek approval of its revised offer from the Board of Corus Group Plc and the $11.3 billion transaction is likely to be finished by the mid-March this year.

Enterprise value

Announcing the auction outcome, the UK Takeover Panel said Tata Steel bid 608 pence a share in cash as against CSN's 603 pence a share.

"This auction procedure has now completed," the Panel said in an e-mailed statement.

Tata Steel's winning bid of $11.3 billion puts Corus Group's enterprise value, which includes debt, at more than $13 billion.

"Tatas are not new to takeovers. It will not be difficult for them to integrate the two companies and bring in synergies," said Seshagiri Rao, Director Finance, JSW Steel.

The takeover marks the largest acquisition by an Indian company and would propel the combined entity led by Tata Steel to the fifth rank in steel output in the world.

"This feels good as it shows the resilience of Indian economy. Global perception about India is changing. Consolidation in the industry is an important step for competitiveness," said Kamal Nath, Minister for Commerce and Industry.

Auction norms

The nine-round auction called by the UK Takeover Panel began at 10:00 pm (IST) on Tuesday.

Tata Steel had initially bid $9.2 billion against CSN's higher $9.6 billion last month, prompting the UK Takeover Panel to intervene and pick the winner through open bidding.

Under the auction norms, each suitor was required to raise bids by a minimum of five pence per share.

With this win, Tata Steel has now entered the big league of the global steel industry. Tata-Corus would have a combined production of more than 23 million tonnes.

Currently, Arcelor-Mittal is the world's largest company in this space, followed by Japan's Nippon Steel and South Korea's Posco.

The Corus acquisition would also help Tata Steel to be a 40 million tonne per year entity by 2012.

Bollywood actor Shilpa Shetty has won the Big Brother

Bollywood actor Shilpa Shetty has won the UK reality TV show Big Brother with an overwhelming 67 per cent majority.

Shilpa Shetty wins Big Brother

Shilpa walked out of the Big Brother's house amid fireworks and cheering crowds. She thanked them and said "Thank you, I love you. Chicken Curry rules."

She chose a red tunic with jeans this time around as against her pink Tarun Tahiliani sari, the day she entered the house.

Not only has the actress won the prize money of 100,000 Pounds, the show has also given her international recognition and offers of all sorts have started pouring in from abroad.

The winner of the reality show is the person who survives and is not voted out by viewers.

"I found it a lot easy to make friends while participating in the Big Brother Show," said Shilpa Shetty.

Earlier, an overwhelming majority of the viewers voted Shilpa's nemesis Jade Goody out rather than Shetty. But Goody emerged from the studio to see herself a celebrity of sorts and demonised by some.

"I am scared about going to the end of the show. I am in two minds because of the stuff that has happened to my house. I am justified in being really scared and nervous but I guess I will go to accept all the boos that I have not got before," Jade Goody, Contestant, Celebrity Big Brother.

Shilpa Shetty's mother Sunanda, sensing the star's ascending popularity, has hired UK's biggest publicist to cash in.

Shetty, who wasn't really top of the charts in Bollywood, is now globally sought after --- interviews, a cricket reality show, advertisements and who knows, even a Hollywood deal.

President to be on Radio Mirchi on Republic Day

President A P J Abdul Kalam has chosen to ride on the popularity of FM radio and will give a message to the countrymen on 58th Republic Day.
Kalam, also known as People's President, has recorded a brief message for private FM radio station Radio Mirchi to spread his message.
In his message, which was recorded at the Rashtrapati Bhavan on Wednesday night, the President asked people to contribute and make India a developed nation, official sources said.
Kalam also exorted the youth to help build technologically advanced India.
The message, which was recorded at the request of the Radio channel, will be broadcast on January 26 morning, the sources said.
The sources said since its popularity had grown manifolds over the years, the President, who would also be recording his last customary Republic Day message of his present tenure for Doordarshan and All India Radio.