An offer has been made to British Steel by the government as it aims to ward off severe job losses or even closure, it is understood.
Sources close to the negotiations have told Business Live a deal has been put on the table. It comes as details emerged over the weekend that the Scunthorpe giant was poised to receive almost a third of a billion pounds to save it from collapse and help structure a cleaner future.
A £300 million package is understood to have been pulled together by the Treasury and BEIS, with the backing to be issued in instalments, should the Chinese-owned firm meet certain conditions.
