Iveco Group shareholders on 16 October 2026 approved all the resolutions tied to Tata Motors' tender offer. A week earlier, the Indian group's offer vehicle TML CV Holdings B.V. had raised its cash price to €14.40 per share from €14.10, which takes the maximum outlay to about €3.91bn.
Why Tata Motors (via TML CV Holdings B.V.) is buying Iveco Group N.V.
The deal would bring Iveco's trucks, buses and FPT powertrains together with Tata Motors' commercial vehicle business. Iveco's board backs the offer and recommends that shareholders accept it.
Deal terms and financing
The increase of €0.30 per share is in cash. Tata said the previous price already fully valued Iveco but raised it because the authorisation process took longer than first expected. It described €14.40 as its final price. Indian reports said the extra cost will be funded through a credit facility with MUFG Bank.
Regulatory approvals and timing
At the EGM in Amsterdam, shareholders approved a change to the articles of association, conversion into a private company after delisting, and a post-offer demerger and share sale that Tata may use if it holds at least 80% of the shares. As a result, the minimum acceptance condition falls from 95% to 80%. The acceptance period closes on 26 October 2026.
Market context
Iveco's largest shareholder, Exor, has irrevocably committed to tender its stake of about 27% of the common shares, which carries about 43% of the voting rights. If Tata reaches 95%, it plans a squeeze-out under Dutch law. Between 80% and 95%, it plans the demerger and liquidation route instead.
