Iveco, Tata Motors raises offer price to €14.40 per share
Iveco, Tata Motors raises offer price to €14.40 per share Oct 9 (Reuters) - India's Tata Motors TAMO.NS raised its offer for Iveco Group IVG.MI to €14.40 per share as the authorisation process is taking longer than initially anticipated in a few jurisdictions, the Italian truckmaker said on Friday.
The tender offer period opened in early September and ends on October 26
As of Friday, 28.4% of Iveco shares targeted by the offer had been tendered, according to Borsa Italiana data
Iveco said in a separate statement it welcomed the increase in offer price
The previous offer price was €14.10 per share
The new offer price represents a 6.77% premium over July 29 2025 closing price
Tata Motors said the new offer price was its "best and final" offer
Tata Motors agreed to buy Iveco's commercial vehicle business in a deal valued at €3.8 billion last year
Iveco shares were trading at €14.40 at Friday's close
(Reporting by Anna Uras, editing by Gianluca Semeraro and Louise Heavens)
((Anna.Uras@thomsonreuters.com;))
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Iveco, Tata Motors raises offer price to €14.40 per share