Mumbai: Tata Steel has approached the European Commission (EC) for its approval of the proposed $8.1 billion dollar acquisition bid for Anglo-Dutch steelmaker Corus. The European regulator can approve the deal, open a four-month probe or refer it to national regulators, a report quoting an EC statement said.

Tata Steel''s top brass also met in Mumbai, presumably to discuss the strategy to be adopted for countering Brazilian steelmaker CSN''s bid to acquire Corus.

CSN had last week approached Corus with a 475 pence per share offer against Tata''s 455 pence per share and has also started the due diligence of Corus accounts.

Although Tata Steel officials refused to comment on what transpired at the board meeting, market observers believe the company considered the option of raising its $8.1 billion offer for Corus.

Tata has already completed the due diligence process and is understood to have readied the money for the takeover. The company, however, was awaiting a formal bid by CSN, investment banking sources said.

Corus shareholders are expected to consider Tata''s offer at an extraordinary general meeting scheduled on December 4.

A ruling by the European Commission is expected by January 3.