India, Oct. 27 -- Tata Motors' tender offer to acquire Italian commercial vehicle manufacturer Iveco Group has crossed a key milestone, with provisional results indicating that the company would hold an 89.42% stake in Iveco, excluding treasury shares. This exceeds the revised 80% threshold set for the acquisition.
According to a regulatory filing, 238.16 million common shares of Iveco Group were tendered during the acceptance period, which concluded on October 26. The shares represent approximately 87.81% of Iveco's total common share capital.
The proposed acquisition marks Tata Motors' largest takeover since its acquisition of Jaguar Land Rover from Ford in 2008.
Published by HT Digital Content Services with permission from Dion Global...