Tata Motors Iveco Bid Reaches 87.8 Percent
Tata Motors has successfully cleared the acceptance threshold for its acquisition of Italian truck maker Iveco, reaching 87.8 percent on the final day of the offer. Final results will be announced before the market opens on October 29.
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Tata Motors raised its takeover stake in Iveco to 87.8% on Monday evening after clearing the 80% acceptance threshold. The acquisition gives the India-based automotive giant control over the European commercial vehicle maker. The deal values the business at €3.8B, following a raised offer price of €14.40 per share earlier in October.
