Balfour Beatty and the Laing-Laing consortium are the remaining bidders in the contest to build 25 new schools in Blackburn and Bolton.
The £500m contract for Blackburn with Darwen and Bolton councils will be paid for through the Government's Building Schools for the Future programme.
A third contender, Catalyst Lend Lease, was eliminated last week.
Balfour Beatty is teaming up with BDB Learning Partnership for the pitch. Laing O'Rourke and John Laing would work together if they won.
Work is scheduled to start in Blackburn in 2010 and Bolton in 2012.