Tata Motors’ takeover bid for Italian commercial vehicle manufacturer Iveco Group has crossed a major milestone, with provisional shareholder acceptances reaching 87.81% of the company’s share capital. This exceeds the revised minimum acceptance threshold of 80%, bringing the proposed acquisition closer to completion.
The transaction is valued at approximately €3.91 billion, or around ₹42,561 crore. Based on provisional results, Tata Motors is expected to hold 89.42% of Iveco’s common share capital, taking treasury shares into account.
Offer Crosses Key Acceptance Threshold
The tender offer attracted 238.16 million Iveco shares during the acceptance period, which closed on October 26. The acceptance level cleared the revised 80% threshold after Iveco shareholders approved the reduction from the earlier 95% requirement at an extraordinary general meeting on October 16.
Tata Motors had initially offered €14.10 per share before increasing the price to €14.40 on October 9. The company described the revised offer as its final bid.
Final results are scheduled to be announced before the market opens on October 29. The offer is also expected to reopen for five trading days, from November 2 to 6, allowing eligible shareholders another opportunity to tender their shares.
Iveco Deal Expands Global Commercial Vehicle Business
The acquisition covers Iveco’s commercial vehicle operations, including its truck and bus businesses, while excluding its defence division.
The deal is expected to strengthen Tata Motors’ presence in Europe and other international markets. Combining the companies’ operations could also create opportunities to share engineering capabilities, improve procurement efficiencies and expand access to customers across different regions.
The combined commercial vehicle business is expected to generate annual revenue of approximately €21 billion and sell more than 590,000 vehicles, according to reports.
A Major International Acquisition for Tata Motors
The Iveco acquisition represents Tata Motors’ largest deal since its purchase of Jaguar Land Rover in 2008. The company announced its plan to acquire Iveco in 2025, aiming to expand its global commercial vehicle portfolio and diversify its geographical presence.
Crossing the acceptance threshold marks an important step towards completing the transaction. The final ownership structure and next stages of integration will depend on the completion of the takeover process and applicable conditions.
For Tata Motors, the deal offers an opportunity to strengthen its position in the global truck and bus market while expanding its reach beyond India.
