Tata Steel Chairman defends acquisition of Corus Steel
Tata Steel Chairman N Chandrasekaran on Tuesday defended the acquisition of Corus Steel in the UK and said the decision was one of the long-term strategies to grow through international acquisitions. Former Tata Sons chairman Cyrus Mistry earlier alleged that Ratan Tata decided to buy Corus for over $12 billion despite reservations raised by some board members and senior executives.