The Excalibur Steel consortium hoping to secure a management buyout of Tata’s UK steel assets will submit its bid for the business this afternoon.
Excalibur is led by Stuart Wilkie, the boss of Tata’s strip steel operations in Britain, who has taken a leave of absence from the business to run the bid.
Members of the consortium – which is backed by Welsh billionaire Sir Terry Matthews – are currently locked in meetings going over the legal fine print of their plans.
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