Rescue option for steel firm

GOVERNMENT PREPARED TO TAKE OVER

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THE government is preparing to take control of the UK's third largest steelworks to protect 1,500 jobs.

Ministers have lined up special managers to run Liberty Steel's South Yorkshire operations if they are put in administration. Much will depend on the outcome of court wrangling this week, in which metals tycoon Sanjeev Gupta is plotting a deal to salvage his remaining UK steel operations and avoid their collapse into compulsory liquidation.