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News - Auto

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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News - Auto

Tata, M&M may revise Jaguar, Land Rover bids (Business Standard 11th Dec 2007)Tata Motors and Mahindra and Mahindra (M&M) are close to submitting revised bids for acquiring the Jaguar and Land Rover brands. One Equity Partners, a private equity firm, is the other bidder. However, it is not known whether One Equity will also follow suit. According to sources close to the developments, the two Indian companies may revise their bids to $2.2 billion in the higher end of the band. An analyst from Merrill Lynch had valued the two companies at $1.5 billion. Another marriage of frugal engg with high tech (The Hindu Business Line 11th Dec 2007) It is yet another marriage of frugal engineering with high technology. The joint venture announced on Monday between Swedish multinational, Volvo A.B., and Eicher Motors follows the same pattern as three other partnerships that were forged in the recent past — Ashok Leyland-Nissan Motors, Mahindra & Mahindra- ITEC, and Force Motors-MAN...
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