Anglo-Dutch steel firm has accepted a £4.3bn takeover offer from India's Tata Steel

The steel giant Corus has confirmed its acceptance of a £4.3bn offer from Tata Steel, representing the largest ever Indian takeover of a foreign company.

Tata bid 455p per share, less than Corus' closing price of 478p on Thursday.

Corus, which is the second biggest steel-producer in Europe and employs 24,000 people in the UK, must now have the deal approved by its shareholders.

Tata Steel is part of the Tata Group.