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Tata bids $2.05 bn for Jaguar-Land Rover (rediff.com 18th Dec 2007) Jaguar and Land Rover, two iconic auto brands in the United Kingdom, are set to see a change of ownership in the new year, with their current American parent Ford Motor looking to finalise a winner by the end of 2007 or early 2008.
The bids from leading Indian conglomerates and the front-runners for the deal, Tatas and Mahindras, are worth over $2.05 billion and $1.9 billion, respectively, sources close to the development said.
While no official confirmation could be obtained, another suitor, a private equity firm led by former Ford CEO Jacques Nasser -- OneEquity -- is still in the reckoning, but Ford is understood to be preferring a buyer directly involved in the auto manufacturing business.
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