Tata Motors Launches Bid for Iveco Group
By Stephen Nakrosis
Italian vehicle maker Iveco Group said Tata Motors has launched an all-cash voluntary offer for the company, offering EUR14.10 in cash per share.
The offer values Iveco Group at about EUR3.82 billion, the companies said.
The tender offer is being made via TML CV Holdings, a Dutch subsidiary of Tata Motors.
Iveco said its board unanimously supports the offer, and recommends shareholders accept the deal. Under the terms of the deal, Tata will acquire 100% of the Iveco's common shares and delist the company from Euronext Milan.
Iveco said Exor, its largest shareholder, has irrevocably committed to support the offer.
The companies also said they believe having Iveco operate as a wholly privately owned subsidiary is key to the sustainable success of its business and long-term value creation. Tata will respect existing rights and benefits of Iveco's employees, and doesn't envisage any reduction of the workforce of Iveco Group as a direct consequence of the combination, the companies added.
Iveco's brands include FPT, Iveco Bus, and finance arm Iveco Capital.
Shareholders will vote on the transaction at a meeting scheduled for Oct. 16.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 04, 2026 17:06 ET (21:06 GMT)
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