Daily Management Review

Tata Steel UK On Its Assets Bid


05/26/2016


The two key bidders of Tata Steel UK takeover deal are open to work in collaboration.



On Tuesday, the 24th May 2016, the companies who had taken interest in purchasing the assets of Tata UK Steel had not submitted their bids to the “Indian conglomerate”.
 
According to the media reports, it was suggested that “Excalibur and Liberty”, the two main bidders were also exploring the possibility of “joining forces”, while the decision from the Tata’s board members are still expected.
 
In the month of March 2016, the steel industry of Tata UK was shaken by the imports of cheap Chinese material which came together with the “high energy costs”, whereby the company of Tata decided to sell its “UK steel operations”.
 
According to BBC, the Liberty House and Excalibur Steel, the latter being the “management buyout group”, will be presenting their separate takeover bids. Nevertheless, the report also added that both the companies are also exploring a parallel plan of working out a partnership which they might mention in the “bid documents”.
 
Moreover, Digitallook informs:
“Other bidders include Greybull Capital, which recently bought Tata's Scunthorpe-based long products division, Hebei Iron and Steel Group, China's largest iron and steel company, Indian steel company JSW, US scrap recycler Nucor and Endless, a Leeds-based private equity firm and turnaround specialists”.
 
 
 
 
References:
http://www.digitallook.com/







Science & Technology

Apple takes up to develop Apple Watch for health monitoring

Hyperloop is growing in Europe

Analysts: US gamers prefer mobile games

Google Assistant Winner Of Head-To-Head Test Of Digital Assistants, Beats Siri And Alexa

Animals Can Burn Muscle To Supplement Body Water Needs, Finds A Study

The future of private flights at Farnborough air show

Experts Want To Fix Problem Of AI Hurting People Of Color And The Poor

New Study Claims Astrobiologists Locating Possible Life On Moon In Its Life Time

Wreck Of Russian Ship Rumoured To Have 5,500 Boxes Of Gold Found Near South Korean Island

Gene Editing of Human Embryo Could Find ‘Moral’ Grounds: UK’s Ethics Council

World Politics

World & Politics

Venezuela comes up with a new monetary reform

Paris is losing its icon public bicycle sharing system

Heat wave in Europe creates problems for brewers

Is it legal to print a gun? US is discussing 3D printing of firearms

Southeast Asian Leaders To Seek Clarity Of US Policies For The Region Form Pompeo

The world economy is accumulating environmental debt

US To Invest $113 Million In Asia To Counter Chinese Influence

US Intelligence Detects New Activity At Its Missile ICBM Factory: Reports