Shares of the company, which is in the middle of a takeover battle between India's Tata Steel and Brazil's CSN, closed at 530.5 pence on Friday and at current market price could make the shareholding employees millionaires overnight.
The panel may also decide on a sealed process where bidders' offers are final, or a standard auction held over a period of days.
Anglo-Dutch steel company Corus, currently in the midst of a takeover bid by India's Tata Steel and Brazil's CSN, has been fined more than three million pounds for breaching health and safety laws at a factory where an explosion killed three workers
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With the Tatas agreeing to sell its Scunthorpe steel plant in the UK to investment firm Greybull for a nominal one pound, the storied 'British Steel' name will be back in the now-ailing industry.
The British government has been under pressure to help a sale process go through after Tata said it would sell its British business.
The $12.1 billion Corus acquisition-the biggest global acquisition made by an Indian company-ended up as a millstone around Tata Steel's neck, points out Indrajit Gupta.
The latest results suggest Tata Steel Europe may have lost pricing power, though production and turnover are up.
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