Tata Motors Raises Iveco Offer as Major Investors Hold Out
Tata Motors raised its offer price for Iveco Group, but three major institutional shareholders have yet to tender shares. The tender offer had attracted acceptances for 28.4%; the deadline is October 26.
New Delhi, Oct. 12 -- Tata Motors Ltd has raised its offer price for Iveco Group NV, but three major institutional shareholders have yet to tender their shares, putting the acquisition at risk as the 26 October deadline approaches. 4% of the sh…