Tata Motors said it has increased the takeover offer price for Italian truck maker Iveco Group NV by 0.30 euro per share to 14.40 euro per share, citing delay in authorisation process.
In 2025, Tata Motors announced its plans to acquire Iveco, excluding its defence business, for euro 3.8 billion (nearly Rs 38,240 crore) through TML CV Holdings Pte. Ltd.
The Indian commercial vehicle major earlier offered euro 14.10 per share, valuing the transaction at euro 3.82 billion. Tata Motors started an all-cash voluntary tender offer for all outstanding common shares of Iveco in September this year.
The acceptance period runs from Sep 7 to Oct 26, 2026, with Iveco Group shareholders scheduled to vote on related resolutions at an extraordinary general meeting on Oct 16.
Iveco Group’s board of directors unanimously supported the deal and has recommended that shareholders tender their shares and vote in favor of the earlier offer.
While noting that the previous offer price already represented full and fair valuation of Iveco, Tata Motors on Friday said, “Nevertheless, the Offeror [Tata Motors] has resolved to increase the price in consideration of the slight delay in the completion of the offer, due to prior authorisations process taking longer than initially,” Tata Motors said in an exchange filing on Friday night.
The company said the revised offer price represents a 33.47% premium over Iveco’s share price on July 17, 2025, the last trading day before reports of a potential acquisition by Tata Motors emerged. It also represents a 6.77% premium over Iveco’s share price on July 29, 2025, the last trading day before the acquisition announcement.
If all 271.2 million Iveco common shares are tendered, the revised offer price would value the transaction at euro 3.91 billion. Tata Motors Will fund the additional payout through euro-85-million credit facility agreement with MUFG Bank Ltd., GIFT Branch.
Tata Motors also noted that this revised offer price is its best and final offer and will not be increased further.