Noida, Sep 4 (APAC Media): Tata Motors proposed acquisition of Iveco Group has moved into the shareholder acceptance stage after Italy’s market regulator Consob approved the offer document for the Indian automaker’s voluntary tender offer for all common shares of the commercial vehicle maker.
The acceptance period will open on September 7 and run through October 26, unless extended, Tata Motors said in a regulatory filing on Friday.
The offer, being made through Tata Motors’ indirect wholly owned subsidiary TML CV Holdings B.V., carries a consideration of EUR 14.10 per Iveco share on a cum-dividend basis.
Consob approved the offer document through Resolution No. 24119 dated September 3.
“TML CV Holdings B.V. has today published a communication confirming the approval of the Offer Document by CONSOB,” Tata Motors said in its filing.
The company said a separate announcement would provide details on the publication and distribution of the offer document, including the procedure for shareholders wishing to participate in the tender offer.
Under the current timetable, shareholders who accept the offer during the initial acceptance period are expected to receive payment on October 30, the fourth trading day following the offer’s close.
Subject to applicable legal requirements, the acceptance period may be reopened for five trading days from November 2 to November 6. Payment for shares tendered during the reopening period is expected on November 13.
The offer will be launched in Italy and extended to eligible shareholders in the United States in accordance with applicable US securities regulations.
Tata Motors said the offer would not be made in Canada, Japan, Australia or other jurisdictions were doing so would require additional regulatory approvals.
The Consob clearance follows Tata Motors securing the other required sector-specific regulatory authorisations for the transaction earlier this week.
The proposed Iveco acquisition, announced in July 2025, is a key part of Tata Motors’ plans to expand its commercial vehicle business globally. Iveco has a significant presence in Europe and operates across trucks, buses and speciality vehicles.
With the offer document now approved, the focus shifts to Iveco shareholders as the tender offer opens next week. The offer remains subject to its terms and conditions.
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Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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