Tata Motors acquires Iveco Group with a takeover bid worth almost 4 billion euros

Iveco, a historic Piedmontese company, passes into the orbit of another multinational, the Indian group Tata Motors. Tata Motors' takeover bid for Iveco attracted acceptances equal to 87.81% of the ordinary share capital, for a value of approximately 3.43 billion euros. Also considering Iveco's own shares, equal to 1.8% of the capital, the bidder's overall participation rises to 89.42%, net of own shares.

The provisional results were communicated by TML CV Holdings, the company through which Tata Motors promoted the offer, and allow it to exceed the minimum threshold of 80%, reduced after the approval of the resolution on the so-called back-end by the extraordinary meeting of 16 October. The final results will be announced by 7.29am on October 29th.

The price of the shares

The price paid to participating shareholders is 14.40 euros per share, including the 30 cent increase announced on 9 October. Payment is due October 30th. If the provisional results are confirmed and the other conditions of the offer are met, the terms to participate will reopen for five trading sessions, from 2 to 6 November. Shareholders who have not yet signed up will therefore be able to confer their shares at the same price of 14.40 euros. Payment for memberships collected during the reopening is expected on November 13th.