Bid For Tata Steel

During intraday trading, company's shares on Monday rose close to 20 per cent to touch a high of Rs 53.85 a scrip on BSE.

JSW Steel has jointly bid with India Resurgence Fund, a partnership between Piramal Enterprises and Bain Capital, sources said.

Liberty House Group plans to bid for two units of Tata Steel's British business - specialty steels and pipeline tubes - which operate independently of its Port Talbot plant and related assets that were put up for sale earlier this year, an industry source told Reuters.

Liberty House Group has lined up financing from banks in the United Kingdom and India as well as several private investment firms to support its bid to acquire the British assets of Tata Steel, Executive Chairman Sanjeev Gupta told Reuters.

Tata Steel has received an encouraging number of serious offers for its British assets Prime Minister David Cameron said on Wednesday but also said there were no guarantees of a successful conclusion.

Britain's Business Secretary Sajid Javid met Tata Steel bosses in Mumbai ahead of a crunch board meeting on Wednesday expected to discuss potential buyers for its loss-making UK assets.

Formal bids for Tata Steel's loss making UK assets are set to be finalised on Monday, with a shortlist being drawn up in next few days and UK Business Secretary Sajid Javid set to fly out to Mumbai to hold talks with the Indian conglomerate to discuss the final bids.

Excalibur Steel, a management buyout group interested in purchasing Tata Steel's British steelmaking operations, is considering joining forces with rival bidder Liberty House, The Sunday Times newspaper reported.

JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares.

Metals group Liberty House sparked new hope for Britain's endangered steel industry on Tuesday by announcing the first firm bid for Tata Steel UK, potentially saving thousands of jobs.

Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel today, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs.

Indian-origin businessman Sanjeev Gupta's Liberty House group has confirmed that it will be submitting its bid for Tata Steel's loss-making UK businesses by tomorrow, according to a media report.

Indian-origin businessman Sanjeev Gupta's Liberty House group has confirmed that it will be submitting its bid for Tata Steel's loss-making UK businesses by Tuesday, according to a media report.

Britain-based Indian tycoon Sanjeev Gupta has said his Liberty House group is evaluating a bid for other UK assets of the troubled Tata Steel after completing the acquisition of the firm's loss-making plants in Scotland.

The UK government has been holding talks to find a solution and has indicated the possibility of co-investing with potential buyers, side-stepping calls to fully nationalise the steel industry.

During intraday trading, company's shares on Monday rose close to 20 per cent to touch a high of Rs 53.85 a scrip on BSE.

JSW Steel has jointly bid with India Resurgence Fund, a partnership between Piramal Enterprises and Bain Capital, sources said.

Liberty House Group plans to bid for two units of Tata Steel's British business - specialty steels and pipeline tubes - which operate independently of its Port Talbot plant and related assets that were put up for sale earlier this year, an industry source told Reuters.

Liberty House Group has lined up financing from banks in the United Kingdom and India as well as several private investment firms to support its bid to acquire the British assets of Tata Steel, Executive Chairman Sanjeev Gupta told Reuters.

Tata Steel has received an encouraging number of serious offers for its British assets Prime Minister David Cameron said on Wednesday but also said there were no guarantees of a successful conclusion.

Britain's Business Secretary Sajid Javid met Tata Steel bosses in Mumbai ahead of a crunch board meeting on Wednesday expected to discuss potential buyers for its loss-making UK assets.

Formal bids for Tata Steel's loss making UK assets are set to be finalised on Monday, with a shortlist being drawn up in next few days and UK Business Secretary Sajid Javid set to fly out to Mumbai to hold talks with the Indian conglomerate to discuss the final bids.

Excalibur Steel, a management buyout group interested in purchasing Tata Steel's British steelmaking operations, is considering joining forces with rival bidder Liberty House, The Sunday Times newspaper reported.

JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares.

Metals group Liberty House sparked new hope for Britain's endangered steel industry on Tuesday by announcing the first firm bid for Tata Steel UK, potentially saving thousands of jobs.

Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel today, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs.

Indian-origin businessman Sanjeev Gupta's Liberty House group has confirmed that it will be submitting its bid for Tata Steel's loss-making UK businesses by tomorrow, according to a media report.

Indian-origin businessman Sanjeev Gupta's Liberty House group has confirmed that it will be submitting its bid for Tata Steel's loss-making UK businesses by Tuesday, according to a media report.

Britain-based Indian tycoon Sanjeev Gupta has said his Liberty House group is evaluating a bid for other UK assets of the troubled Tata Steel after completing the acquisition of the firm's loss-making plants in Scotland.

The UK government has been holding talks to find a solution and has indicated the possibility of co-investing with potential buyers, side-stepping calls to fully nationalise the steel industry.