Bhushan Steel Surges After CoC Approves Tata Steel Bid For Acquisition
Shares of the Delhi-based steel maker rose as much as 9.4 percent to Rs 43.20 after its committee of creditors (CoC) approved Tata Steel’s bid for acquisition of Bhushan Steel.
The company won bid to acquire Bhushan Steel in the auction process, according to its stock exchange filing. The acquisition is subjected to obtaining necessary regulatory approvals, including approval from the NCLT and the Competition Commission of India, the notification added.
