A man was hit with an axe and another man struck by a baseball bat in a fight, police have said.
They were among a group of men involved in the brawl at the junction of Marsh Lane and Stanley Road, Bootle at about 20:30 GMT on Friday, Merseyside Police said.
The pair, aged 36 and 52, suffered head injuries and are in a serious but stable condition in hospital.
They were also arrested on suspicion of assault.
Ch Insp David Currie said: "We understand that the local community will be concerned by this incident - please be assured that we are taking this incident extremely seriously and I am appealing to anyone with information to please come forward."