According to news reports, Babcock, whose market worth is estimated to be £2.4 billion, has shown interest in the Belfast shipyard owned by Harland and Wolff, which is best known for building the Titanic.
Reports that Harland and Wolff may go into administration as early as next week coincide with the news of its interest.
The corporation has been facing significant challenges due to its large debt load, and it suffered a severe hit shortly after the general election when the government opted not to guarantee a £200 million loan for the company.
This past weekend, it was unclear how deep or serious Babcock’s interest in Harland was.
Sources in the military industry understand that a number of other trade and financial bidders have expressed interest in participating in the auction.
The deadline for proposals is later this month, according to bankers at Rothschild, who are conducting a selling process to determine interest in the business and its assets.
One of the competing bids is probably the Spanish shipbuilder Navantia, which has a joint contract with Harland & Wolff.
It is said that Teneo was placed on standby to serve as an administrator.
