Tata Motors launches €3.82bn all-cash bid for Italian truck maker Iveco

Tata Motors announced Friday that it has launched an all-cash voluntary tender offer for all common shares of Iveco Group through its subsidiary TML CV Holdings B.V. The offer values each share at €14.10 on a cum-dividend basis, representing a total enterprise value of approximately €3.82 billion for the Italian-headquartered commercial vehicle maker.

Shareholders will have until October 26, 2026 to accept the offer, with the acceptance period commencing on September 7, 2026. The move represents the latest phase in Tata Motors' proposed acquisition of Iveco, following regulatory approval from Italy's market regulator Consob, which has cleared the way for the shareholder acceptance process to proceed.

Iveco Group's Board of Directors has unanimously endorsed the transaction and recommended that shareholders accept the offer. The board has also advised shareholders to vote in favour of resolutions related to the acquisition at an Extraordinary General Meeting scheduled in connection with the tender offer.

The acquisition marks a significant expansion of Tata Motors' commercial vehicle operations in Europe, building on the Indian conglomerate's existing portfolio in the heavy commercial vehicle and bus manufacturing sectors. The transaction is subject to customary closing conditions and regulatory approvals.