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

Scientists Discover Largest Ever Under Water Volcanic Eruption Near New Zealand

Bitcoin craze increased load on the power grid to the maximum

PC And Server Performance Slows Down Due To Security Patches For Chip Flaws, Says Microsoft

Cybersecurity Firm Claims Cryptocurrency Monero Might Be Getting Funneled To North Korea University

The Way We Travel Will Be Changed by The Colorless, Odorless Gas - Hydrogen

EU's Big Change In Data Protection Rules Makes Businesses To Get Ready For It

Artificial Intelligence Helps NASA Find An 8th Planet In Orbit Of A Distant Star

Australian Research Success Could Mean Shatterproof Cell Phones Could Soon Be A Realityv

Top ten hi-tech events of the year

Tesla Considering Designing And Developing AI Chips On Its Own To Support Its Auto-Pilot Project

World Politics

World & Politics

Failure Of Last Ditch Effort To Secure Funding Results In A Partial Shutdown Of US Government

About 700,000 U.S. Twitter Users Reacted To Kremlin-Linked Trolls, Says Twitter, To Inform Users Directly

2017 Was Second Warmest Year Since Records Were Kept And It Had No El Nino Effect

France and Germany want to reform the eurozone

Take and go away: new approach to refugees in Europe

Both The Korean Countries Will Come Together In Olympic Talks

Parties of Germany agreed on the migrants problem

Munich Re: Natural disasters caused record damage in 2017