05 December 2006
Boutique City firm Penfida Partners has been hired by the
pension trustees at Corus to advise on the looming takeover battle
between Tata Steel and CSN.
The trustees have a large influence over the outcome of the bid
battle, as due to the size of the schemes the trustees' backing is
crucial to the success of a takeover. The schemes will make future
payouts of more than £13bn.
Penfida is an advisory firm set up specifically to advise
pension trustees in takeover situations and aims to "provide the
analytical and advisory experience... to trustees to put them on an
equal footing with companies that have ready access to advice from
investment banks."
