Mumbai, Oct. 28 -- With the revised Euro 14.40-per-share offer securing provisional acceptances covering 87.81 percent of Iveco's common share capital as a key condition for the acquisition, Tata Motors has crossed perhaps the most crucial challenge in the takeover of the Italian commercial vehicle major. As and when the deal reaches finality, the Tata Motors' subsidiary, TML CV Holdings B.V., would come to hold approximately 89.42 percent of Iveco's common share capital excluding treasury shares.

In a regulatory filing dated October 27, Tata Motors said 238.16 million Iveco common shares had been tendered under the voluntary takeover offer by the October 26 deadline. The shares represent approximately 87.81 percent of Iveco's common sha...