Tata Motors has raised its offer for Iveco Group to €14.40 per share, calling the revised proposal its “best and final” offer as regulatory approvals for the transaction take longer than initially expected in some jurisdictions, the Italian commercial-vehicle maker said on Friday.
The tender offer opened in early September and is scheduled to close on October 26. As of Friday, 28.4% of Iveco shares targeted by the offer had been tendered, according to data from Borsa Italiana.
The revised price is up from Tata Motors’ previous offer of €14.10 per share. Iveco said it welcomed the increase, while Tata Motors described the new price as its final proposal. Iveco shares closed at €14.40 on Friday, matching the revised offer price.
The new offer represents a 6.77% premium over Iveco’s closing share price on July 29, 2025. The price revision comes as the authorisation process continues across several jurisdictions involved in the proposed transaction.
Tata Motors agreed last year to acquire Iveco’s commercial-vehicle business in a deal valued at €3.8 billion. The transaction would bring together Tata Motors, an Indian manufacturer with a major presence in commercial vehicles, and Iveco, whose operations are centred on trucks and other commercial vehicles.
For cities and regional economies, commercial-vehicle ownership and production are closely linked to the movement of goods, construction supplies and essential services. However, the material supplied for the announcement does not specify how the proposed transaction could affect Iveco’s operations, Tata Motors’ product portfolio, employment or market strategy.
The current tender response indicates that a portion of the targeted Iveco shares had been committed by Friday, but the supplied report does not state the minimum acceptance threshold or the remaining regulatory conditions for completion. It also does not provide a revised closing timetable beyond the October 26 end date for the tender offer.
The offer process will now proceed against the backdrop of the extended authorisation timelines. The next formal milestone is the October 26 deadline for shareholders to tender their Iveco shares.
