Tata Motors has successfully crossed the 80 percent acceptance threshold for its acquisition of Italian truck maker Iveco, reaching 87.8 percent on the final day of the tender offer. The milestone follows a €3.8 billion deal agreed last year for the commercial vehicle business.
Tata Motors' takeover bid for Italian truck maker Iveco has cleared the 80 percent acceptance threshold, reaching 87.8 percent on the final day of the offer, according to an Italian stock market filing released on Monday.
The tender offer originally opened on September 7. During the process, the offer price was revised upward to €14.40 per share from the previous €14.10 per share on October 9.
Under the broader transaction agreed upon last year, Tata Motors committed to acquiring Iveco's commercial vehicle business in a deal valued at €3.8 billion.
"Crossing the 87.8 percent acceptance threshold on the final day indicates strong market participation and clears a critical path for the completion of this cross-border transaction. At a valuation of €3.8 billion for Iveco's commercial vehicle business, integrating global operations of this scale will require strategic alignment and careful execution. This development highlights how established Indian automotive players continue to expand their international footprint through structured acquisitions in mature markets." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
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