Tata Motors launches tender offer for Iveco Group; deal values company at €3.82 billion
Tata Motors has launched a voluntary tender offer for all issued common shares of Italian transport vehicle maker Iveco Group at €14.1 per share, in cash, including the dividend.Tata Motors CV and Iveco Group jointly announced the offer's commencement by TML CV Holdings B.V. in an exchange filing on Saturday, September 5. The offer values Iveco at approximately €3.82 billion and is aimed at acquiring 100% of the company’s common shares and delisting it from Euronext Milan.To fund the transaction, Tata Motors CV signed a debt commitment letter with Morgan Stanley Bank, N.A., Morgan Stanley Seni