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

Facebook may start production of its own microprocessors

Long-Term Alcohol Monitoring Could Be Possible With A New Injectable Chip Developed By U.S. Researchers

Sweden Now Has The First Electrified Road In The World

Over 270,000 Account Globally Banned From Twitter For Promotion Of Terrorism

Device Capable Of Hearing The Inner Voice Developed By Researchers

New mobile technologies will warn about natural disasters

The brewing industry welcomes blockchain

Asset-Sharing App Of Ryder Is Meant For Commercial Vehicles

Credit Suisse: China will become the leader in AI sphere

Five new technologies that will change the world

World Politics

World & Politics

Debates over Google are heating as a new EU directive is about to be introduced

Will Merkel accept Macron's plans for Europe?

USA and China are pushing North Korea to denuclearization

Germany's dilemma: Will the atomic energy win?

A Forceful Response To Syria Attack Will Be Given By U.S.: Trump

Is Trump’s Maximum Pressure Tactic On North Korea Succeeding Because Of China?

Why are Turkey-EU relations moving back?

Record-Breaking $39 Million raised for Rare Cancer Research in 2018 by Cycle for Survival