Tata Steel had earlier announced the amalgamation of nine of its strategic businesses, including Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, TRF, The Indian Steel & Wire Products, Tata Steel Mining Ltd, S & T Mining Company.
Tata Steel the promoter of TRF held a 34.1% stake in the company as on December-end. Under the amalgamation scheme, shareholders of TRF were to get 17 shares of Tata Steel for every 10 held in the company.
Tata Steel calls off merger with TRF newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.
Tata Steel on Wednesday announced the merger of five strategic businesses of the group with itself as part of an integration process aimed at simplifying business portfolio.