Tata Motors Raises Iveco Offer to EUR 14.40 per Share, Calls It Final
Tata Motors increased its cash offer for Iveco’s commercial vehicle business to EUR 14.40 per share, valuing the deal at up to EUR 3.91 billion. The Indian automaker described the revised bid as final and said it was made after regulatory approvals took longer than expected. The offer, launched through TML CV Holdings, excludes Iveco’s defense operations and represents a premium to pre-announcement prices.
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Tata Motors lifted its cash bid for Iveco’s commercial-vehicle unit to EUR 14.40 a share, EUR 0.30 above the prior EUR 14.10 proposal, and called it final. The maximum payout would be EUR 3.91 billion if all 271.2 million targeted shares are tendered. The
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