Italian market regulator clears Tata Motors' tender offer for Iveco shares
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Italian market regulator Consob has approved the offer document for Tata Motors’ voluntary tender offer for all the common shares of commercial vehicle maker Iveco Group, clearing the way for the acceptance period to begin on September 7.
The offer is being made by TML CV Holdings, an indirect wholly owned subsidiary of Tata Motors, at €14.10 per Iveco share on a cum-dividend basis, the automaker said in a stock-exchange filing on Friday.
Iveco shareholders can tender their shares from September 7 until October 26, unless the offer period is extended. Shareholders who accept the offer during this window are scheduled to receive payment on October 30, the fourth trading day after the offer closes.
Subject to applicable legal requirements, the acceptance period may subsequently reopen for five trading days from November 2 to November 6. Payment for shares tendered during this additional window is expected to be made on November 13.
Tata Motors said a separate announcement would provide details on the publication and distribution of the offer document, including the procedure for shareholders to participate.
The offer will be launched in Italy and extended to shareholders in the US in accordance with applicable American securities regulations. It will not be launched in Canada, Japan, Australia or other jurisdictions where it would require additional regulatory approvals.
The approval marks a procedural step in Tata Motors’ proposed acquisition of Iveco, which was announced in July 2025. The transaction is being pursued through Tata Motors’ commercial-vehicle holding entities.
The tender offer remains subject to its specified terms and conditions.
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