Tata Motors has received regulatory approval to proceed with a tender offer for Iveco Group, according to a source report dated September 18, 2026. The offer is priced at €14.1 per share and values Iveco at around €3.82 billion. The verified purchase consideration for the transaction is €4,378,923,169.
The deal is at the approved stage, not completed. Italy's market regulator Consob approved the tender-offer document on September 3, allowing the offer to move into the shareholder acceptance stage. Tata Motors had also received other required regulatory clearances, including approval from the European Central Bank. Iveco shareholders have until October 26, 2026 to accept the offer, and the transaction still has to meet its remaining conditions before Tata Motors can complete the acquisition.
Tata Motors is seeking to acquire all the common shares of Iveco, an Italian company that makes trucks, buses and powertrains. Iveco's defence business has already been separated, so the current deal is focused on its commercial-vehicle business.
According to the source, Iveco gives Tata Motors a stronger presence in Europe and other international commercial-vehicle markets. The two companies have relatively limited overlap in their manufacturing and geographic operations. Iveco brings established truck and bus products, European manufacturing, technology and an existing customer base.
Based on the companies' earlier transaction plans, Tata Motors and Iveco together are expected to have annual commercial-vehicle sales of more than 540,000 units and combined revenues of around €22 billion, with the revenue mix spread across Europe, India and the Americas.