Liberty House is still interested in snapping up Tata Steel's UK assets despite Brexit, City A.M. understands.
It follows reports suggesting several bidders are close to abandoning talks with the Indian conglomerate, after Britons voted to leave the European Union on Thursday.
An industry source told City A.M. that they wouldn't be surprised if this was the case.
Sky News reported that the outcome means billionaire tycoon Wilbur Ross, one of several bidders eyeing Tata's UK business, is unlikely to pursue a takeover.
"Wilbur has been reasonably open that this deal is far less attractive if Brexit happens," they reported a person had discussed the Tata situation with Ross as saying.
But Tata told the BBC today that no bidders had pulled out in light of the referendum result.
A spokesman said: "Like the rest of the business world we will be taking the time to consider the implications of the verdict of the British people."
"We have received no notifications from any of the interested parties of any change in their position."
Over two million people have signed a petition for a second referendum. However, experts have branded the move a "waste of time".