Business Daily from THE HINDU group of publications
Monday, May 26, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Monday, May 26, 2008 ePaper | Mobile/PDA Version | Audio |
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People Industry & Economy - Books
Mr Jeffrey Archer
D. Murali
Chennai, May 25 Like magicians, novelists don’t tell. The plot, we mean. They would rather keep the suspense and let you discover it as you read their bestselling book. But just occasionally they can give you a glimpse of what they are thinking about and ideas that they are turning over in their head. You can smell a bestseller that is cooking and get a faint preview of its outlines. So it was, with Mr Jeffrey Archer, renowned author and novelist, currently in India on a book tour. Every time we explored themes with him, he would discuss a few thoughts and then stop short, afraid that he might give too much away. While discussing the topic of business rivalry, the subject of many a novel, he said that the public is highly fascinated by high finance. And more than 95 per cent never get to touch it or come near it, he said. When in Mumbai last week, Mr Archer happened to meet Mr Krishna Kumar, Director, Tata Son, at a party. Conversation had naturally drifted to the Tata-Corus deal that saw Tatas take over this UK steel company for $12 billion in January 2007. The acquisition had come after much drama, including fighting a rival bid from a Brazilian company (Companhia Siderurgica Nacional) or CSN. 8 hours, 9 roundsThe UK Takeover Panel then required both suitors to slug it out in an electronic auction. The auction was spread over nine rounds and fought from the offices of their respective lawyers and advisers in London. The battle went on for about eight hours and continued into the wee hours of the morning of February 1 before the Tatas finally pipped Brazil’s CSN in the 9th round with a bid of 608 pence per share against CSN’s 603 pence a share. Mr Archer was spellbound with this riveting story and the details of the bidding process between Tatas and the Brazilians. He said he is going to put that insight into a novel or a short story — with different names and characters, of course. Once more, a fictional tale will emerge and entertain millions with its seeds in breathtaking real-life drama.
CORUS TAKEOVER Corus buy: Tata to finalise financing structure soon More Stories on : People | Books | Tata Steel Ltd | Overseas Investments
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