Interest and acquisition

Though the country's largest steel producer, Tata Steel, has received seven expressions of interest for its loss-making UK plant, industry officials say most of the bidders are not serious contenders, but those who would like to use the opportunity to find out how Tata Steel financed the plant. When a bidder expresses interest and carries out due diligence, it gets the rare chance to study the way the existing owner has funded the operation. This can offer valuable lessons for a potential buyer. JSW Steel, which has been on an acquisition spree for sometime now, is on the list of potential buyers.