Italy’s market regulator Consob has approved the offer document for Tata Motors’ voluntary tender offer to acquire all common shares of commercial vehicle manufacturer Iveco Group, allowing the acceptance process to begin from September 7.
The offer is being made through TML CV Holdings, an indirect wholly owned subsidiary of Tata Motors. The company has offered €14.10 per Iveco share on a cum-dividend basis, according to a stock exchange filing.
Iveco shareholders get October deadline for tender offer
Iveco shareholders will have the opportunity to tender their shares between September 7 and October 26, unless the offer period is extended. Investors who accept the offer during this period are expected to receive payment on October 30, which is the fourth trading day after the closure of the offer.
Subject to regulatory requirements, the acceptance period could reopen for an additional five trading days from November 2 to November 6. Payments for shares submitted during this extended period are expected to be completed on November 13.
Tata Motors said it will issue a separate communication regarding the publication and distribution of the offer document, along with details on the process shareholders need to follow to participate.
Acquisition process moves ahead after regulatory approval
The tender offer will be launched in Italy and extended to shareholders in the US in line with applicable securities regulations. However, the offer will not be made in countries such as Canada, Japan and Australia, or other jurisdictions where additional regulatory approvals would be required.
The approval from Consob represents a significant procedural milestone in Tata Motors’ planned acquisition of Iveco Group, which was announced in July 2025. The transaction is being executed through Tata Motors’ commercial vehicle holding entities.
The tender offer remains subject to the terms, conditions and regulatory requirements specified as part of the deal.
The acquisition of Iveco is expected to strengthen Tata Motors’ position in the global commercial vehicle market by expanding its international presence and product portfolio. The completion of the transaction will depend on shareholder participation and fulfilment of the required conditions.
