Standard Life is set to make a profit of more than £100m from its 7.9% holding in Corus as a result of Tata Steel's £4.3bn offer for the steelmaker, says the Daily Telegraph .
Fund managers at Standard Life are believed to have bought the stake in Corus at an average price of about 300p a share. Tata Steel's 455p-a-share offer for Corus would represent a 50% return for Standard Life, however, the fund group is unhappy at the price agreed. Standard Life on Friday described the offer from Tata as "lower than we would have expected the board of Corus to agree to" as merging the two businesses would lead to substantial savings, says the paper. RETAIL INVESTORS will be warned of the risk of funds, under plans being devised by the investment industry in the wake o...
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