According to reports from Business Standard, Tata Motors has raised its voluntary takeover offer for Iveco Group to €14.40 per share, up from the previous €14.10, while declaring this revised price as its final and best offer. The increase of €0.30 per share comes as the completion of the acquisition has been delayed because regulatory approvals in some jurisdictions are taking longer than initially expected. The original offer was priced at €14.10 per share and valued the transaction at approximately €3.82 billion. If all 271.2 million shares covered by the offer are tendered, the total payout will amount to €3.91 billion, up from the earlier maximum of about €3.82 billion. As per Business Standard, Tata Motors stated in an exchange filing that the revised offer price represents a 33.47% premium over Iveco's share price on July 17, 2025, the last trading day before reports emerged about a potential acquisition by Tata Motors.
As reported by Business Standard, the revised offer represents a premium of 33.47% over Iveco's share price on July 17, 2025, the last trading day before reports emerged about a potential acquisition by Tata Motors. It is also 6.77% higher than Iveco's share price on July 29, 2025, the last trading day before the original offer announcement. The price increase raises the maximum potential payout by €81.36 million. To fund the additional payout, the offeror has entered into an €85 million credit facility agreement with MUFG Bank's GIFT City branch and submitted documentation for an additional bank guarantee covering the increased payment obligation. According to Business Standard, Tata Motors noted that the revised offer price represents a full and fair valuation of Iveco, but increased the price because approvals are getting delayed due to prior authorisation processes taking longer than initially expected.
According to Business Standard, Tata Motors announced the proposed acquisition in 2025, seeking to combine its commercial vehicle business with Iveco's truck, bus and powertrain operations. The companies said the combination would create a commercial vehicle group with a stronger global presence. The deal excludes Iveco's defence business, which was sold to Italian defence group Leonardo in March 2026. The revised offer follows the start of the formal acceptance period on September 7, 2026, with TML CV Holdings Pte. Ltd. making the offer through its wholly owned Dutch subsidiary, TML CV Holdings B.V. The acceptance period runs from September 7 to October 26, 2026, with Iveco Group shareholders scheduled to vote on related resolutions at an extraordinary general meeting on October 16.
As reported by Business Standard, the revised price offers Iveco shareholders a premium over the stock's trading prices before takeover speculation emerged. The premium is 26.87% over the volume-weighted average share price for the month before July 17, 2025, and 67.98% over the corresponding 12-month average. Shareholders who have already accepted the original offer do not need to submit their shares again or take any additional action to receive the improved price. All other terms and conditions of the offer remain unchanged, with the offer being a cash purchase of all of Iveco's common shares covered by the transaction. According to Business Standard, Iveco Group's board of directors has unanimously supported the deal and has recommended that shareholders tender their shares and vote in favour of the earlier offer.
