Disqualifying winning bids—or tying them up in legal knots—is what rival suitors and erstwhile controlling shareholders are counting on. Liberty is trying to dislodge the winning bid by Tata Steel Ltd, which is trying to overtake JSW Steel Ltd as India’s No. The Tatas have offered $5.6 billion for Bhushan Steel Ltd, another troubled borrower. That price is almost $1.6 billion more than the closest bid by JSW, according to Business Standard. In steel alone, there’s at least $26 billion of assets at stake.

Source: Mint February 27, 2018 03:33 UTC