Tata Motors has increased its takeover bid for Iveco to EUR 14.40 per share, pointing to slower-than-expected regulatory clearances. The Indian manufacturer disclosed the updated all-cash proposal on October 9, 2026, boosting its previous purchase price by EUR 0.30 per share. The transaction encompasses Iveco’s commercial vehicle operations in Italy and international markets, while leaving out its defence division.
If shareholders tender all 271.2 million shares targeted by the acquisition, the total value of the revised bid could reach EUR 3.91 billion. Furthermore, the company has designated this higher price as its final offer, explicitly ruling out any further upward revisions. This step is designed to overcome approval setbacks and maintain momentum for the purchase.
Initially unveiled in 2025, Tata Motors’ acquisition plan was first valued at roughly EUR 3.8 billion. The previous tender price was set at EUR 14.10 per share, which translated to an overall transaction value of approximately EUR 3.82 billion. The all-cash tender offer was officially initiated in September 2026 through the company’s subsidiary, TML CV Holdings.
In addressing the adjustment, Tata Motors noted that the authorization procedure has extended beyond initial projections. An exchange filing from the company noted, “Nevertheless, the Offeror TataMotorsTata Motors has resolved to increase the price in consideration of the slight delay in the completion of the offer.” These updated terms account for the extra time needed to obtain all mandatory clearances.
The updated purchase proposal for Iveco delivers a 33.47% premium relative to the closing price on July 17, 2025. It also provides a 6.77% premium compared to Iveco’s closing price on July 29, 2025, just prior to the buyout announcement. Tata Motors plans to fund the extra cost via an EUR 85 million credit facility provided by MUFG Bank’s GIFT City branch.
The board of Iveco has given the transaction its unanimous support, advising shareholders to tender their holdings. The acceptance period spans from September 7 to October 26, 2026, affording investors a window to evaluate the modified conditions. Additionally, an extraordinary general meeting is set for October 16, where shareholders will vote on associated resolutions.
Successful completion of the deal would bolster Tata Motors’ standing within the worldwide commercial vehicle sector by broadening its global truck footprint. Even so, the acquisition remains subject to the finalization of the offer process and compliance with relevant regulatory mandates. By raising the price, Tata Motors demonstrates its preference to absorb extra expenses rather than allow regulatory bottlenecks to jeopardize the transaction.
Also Read: Tata Motors Offers EUR 14.10 Per Share to Acquire Iveco in EUR 3.82 Billion Deal
