Indian and Chinese firms go shopping for Western companies

It appears that Tata’s purchase of the Anglo-Dutch steel company Corus at the start of this year at $11.3 billion dollars, has given a boost to Asian companies to go for shopping of companies in the Western world. The deal has been ranked sixth best deal of the World in 2007 by Time magazine.The Tata’s acquisition of Corus reverses the trend of western companies acquiring firms of Asia. The hunger of Tata for acquisitions in the Western world is just the beginning. The trend is increasing with each passing day. Latest in series is the Jaguar and Land Rover brands of the car making company Ford, of Britain. Tata is going to acquire the two car brands and unit produce these cars at an expense in excess one billion pounds. Several other companies like Hindalco have also gone for outright purchases of Western companies.

Meri News
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