Corus, the former British Steel Plc, has become a prize as steel prices rise and makers try to cut costs.

Tata Steel denied media reports that the company had decided to sweeten its offer to acquire Corus.

Tata's offer is unlikely to face lengthy antitrust scrutiny as the two companies have few overlaps.

Brazil's CSN SA last week bettered Tata Steel's $8.1 billion bid to take over Corus.

The prospective combination of steel giants Arcelor SA and Mittal Steel Co will likely accelerate the ongoing wave of consolidation in the ...