When it rains, it pours. Fresh talk of steel industry consolidation began late last week, with Brazilian steelmaker Companhia Siderurgica Nacional offer-rig 8 billion dollars for Britain's Coras Group, besting a recent bid of 7.7 billion by India's Tata Steel. The new offer sent Corus shares much higher on speculation that Tata would increase its offer or other companies might make bids. CSN told The Associated Press it has offered 8.97 dollars a share in ash for Corus. CSN and Wheeling-Pittsburgh Corporation announced in October that they have entered into a definitive agreement to merge assets.
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