Keeping up with the Tatas

The Birla Group s Hindalco is keeping up with the Tatas and Mittals by launching a $6bn swoop on Canadian aluminium roller Novelis. And in Tatalike fashion, the Birlas are paying a whopping price for the privilege. Even with its takeunder price, the returns look paltry. And in Tatalike fashion, the Birlas are paying a whopping price for the privilege. Even with its a tiny premium, the returns look paltry.