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Race for Essar Steel: ArcelorMittal offers higher bid than NuMetal

Updated : April 25, 2018 06:31 AM IST

ArcelorMittal offered higher bid than NuMetal Consortium for acquiring Essar Steel, said people familiar with the matter.

The lenders to the debt-ridden Essar Steel held a crucial meeting on Tuesday and opened the bids submitted by both ArcelorMittal and NuMetal Consortium.

This comes after the National Company Law Tribunal (NCLT) in Ahmedabad asked the lenders to reconsider bids from both these companies, which were disqualified earlier. CNBC-TV18's Ritu Singh gets the exclusive details.
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