India's
Tata Steel and
Brazil's Companhia Siderurgica Nacional (CSN) are preparing for the start of a last-ditch bidding war for Anglo-Dutch steelmaker Corus.
Tata Steel and CSN have until 30 January to make a final offer. Otherwise, the
UK Takeover Panel will step in and begin an auction.
Last month, Corus backed an offer of 515 pence a share from
Brazil's CSN. This trumped an earlier offer of 500 pence a share from Tata.