11:04 PMEconomic Times
Tata Motors shares in focus as firm launches tender offer for Iveco Group; values company at €3.82 billion
Summary
Tata Motors has launched a voluntary cash tender offer for all common shares of Iveco Group at €14.1 per share, valuing the Italian commercial vehicle maker at about €3.82 billion. Iveco's largest shareholder, Exor, supports the transaction, which could expand Tata's commercial vehicle operations globally and lead to Iveco's delisting from Euronext Milan.
Tata is using the deal to accelerate its commercial vehicle expansion beyond India, while Iveco
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The offer could create a larger global commercial vehicle group and marks a major overseas expansion for Tata Motors.