Tata Motors sweetens Iveco bid to €14.40 per share as approval drags

Tata Motors Ltd announced the revised offer price on Wednesday, raising its valuation for the all-cash acquisition of Iveco Group to approximately €3.84 billion, or roughly Rs 38,240 crore. The Mumbai-based commercial vehicle manufacturer first unveiled its plans to acquire Iveco's core business operations, excluding its defence division, earlier this year through its subsidiary TML CV Holdings Pte Ltd.

The Indian automotive giant had previously offered €14.10 per share, valuing the transaction at €3.82 billion. Tata Motors initiated an all-cash voluntary tender offer for all outstanding common shares of Iveco in September, with the acceptance period running through October 26, 2026. Shareholders are slated to vote on related resolutions at an extraordinary general meeting scheduled for October 16.

Iveco Group's board of directors has unanimously endorsed the acquisition and recommended that shareholders tender their shares in favour of the offer. The increased bid price comes as regulatory approval processes continue to extend beyond initial timelines. The deal represents a significant expansion of Tata Motors' international commercial vehicle operations and would position the company more prominently in Europe's heavy commercial vehicle sector.