Tata Motors Reaches 89% Shareholding in Iveco Group Takeover

Tata Motors secured a provisional 89.42% of Iveco Group’s common shares, excluding treasury shares, meeting a threshold condition for its proposed takeover. The offer values Iveco at about €3.905 billion ($4.36 billion), or €14.40 per share. The acceptance period is reopening, and the transaction includes the planned spinoff of Iveco’s defense business to Leonardo; Iveco’s board has recommended that shareholders accept the offer.