CSN Joins Latin M&A Party

CSN Joins Latin M&A Party

M&A

Brazilian steel producer CSN has jumped on the Latin M&A bandwagon with an $8 billion cash offer for British steel group Corus, trumping a bid made last month by India's Tata Steel. The cash offer of 475 pence per ordinary share will be covered by existing resources and new debt facilities underwritten by Barclays, Goldman Sachs Credit Partners and BNP Paribas, CSN said. Otavio de Garcia Lazcano, CSN's chief financial officer, said a large part of the financing would have no recourse to CSN. Laz

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