Tata Motors Calls €14.4 Iveco Offer 'Best and Final'

Tata Motors claims that it has set a best and final offer price of €14.4 per share in its buyout bid for European commercial vehicle manufacturer Iveco Group. The Indian vehicle maker voluntarily raised its offer by €0.30 (30 euro cents) per share on October 9 as a goodwill gesture, to compensate shareholders for a four-month delay in securing regulatory authorisations across multiple jurisdictions beyond its original timeline.

Company management affirmed that the €14.4 per share price is non-negotiable and final, dismissing demands from certain minority investors holding out for higher payouts of up to €18 per share.

The transaction advanced following an Extraordinary General Meeting of Iveco Group shareholders, where all board-proposed resolutions were passed by a decisive majority backed by large common share owners. While voluntary tendering currently stands at 35 percent, Tata Motors leadership expressed confidence in crossing the required 80 percent acceptance threshold, noting that institutional investors typically tender shares in the final 24 to 48 hours of offer windows.

To ensure full ownership, Tata Motors has established a pre-wired backend framework under Dutch law. Once voluntary acceptances pass the 80 percent mark, the company plans to execute a statutory squeeze-out procedure to acquire remaining minority holdings, reaching 100 percent ownership within one to two months. Subject to successful completion of the tender offer, settlement is scheduled for October 30, 2026, with financial consolidation beginning in the third quarter of fiscal year 2027.

The cross-border deal comes as Tata Motors demonstrates strong domestic financial momentum, providing substantial balance sheet support for its European integration. The company reported a second-quarter standalone revenue record of Rs 23,930 crore, up 42 percent year-over-year, and maintained a consolidated net cash position of Rs 15,889 crore as of September 30, 2026.

Managing Director and CEO Girish Wagh and Chief Financial Officer G.V. Ramanan stated that following the settlement, executive focus will center on delivering a seamless transition, unlocking cross-regional strategic synergies, and driving long-term value creation.