Tata Motors' Iveco offer draws 87.8% acceptance, clearing the 80% bar

Tata Motors' offer for Italian truck maker Iveco Group has crossed its 80% acceptance threshold, with about 87.8% of common shares tendered by the time the window closed on October 26, according to an Italian stock market filing reported by Reuters.

In all, 238.16 million shares came in, equal to roughly 87.81% of Iveco's common share capital. The consideration for those shares works out to about EUR 3.43 billion. The offer, which opened on September 7, is being made through TML CV Holdings BV, a wholly owned subsidiary of Tata Motors' commercial vehicle arm.

For the market, the headline is scale. If completed, this would be Tata Motors' largest acquisition since it bought Jaguar Land Rover from Ford in 2008. The deal, announced in 2025 and excluding Iveco's defence business, was pegged at around EUR 3.8 billion (nearly ₹38,240 crore) and is meant to widen Tata's global commercial vehicle footprint using Iveco's existing operations and product range.

The path was not entirely smooth. Tata first offered EUR 14.10 per share, then raised it by EUR 0.30 to EUR 14.40, including dividends, on October 9. The company said the sweetener reflected a slight delay, as the prior authorisations process took longer than initially expected.

Management has sounded steady. On the Q2 earnings call, CFO GV Ramanan said the deal was progressing towards completion within the end-October timeline, with priorities of seamless integration and long-term value as consolidation begins from next quarter.

What to watch next: Iveco will announce final results before the market opens on October 29. The offer will then reopen from November 2 to 6, giving remaining holders another chance to tender, with payment for those shares scheduled for November 13.

Read the original report on Mint.