Iveco shareholders back Tata Motors' takeover, lower acceptance threshold to 80%

Iveco Group held an extraordinary general meeting in Amsterdam where shareholders unanimously approved all items linked to Tata Motors' takeover bid. The approvals lower the mandatory share acceptance from 95 % to 80 %, a key step that could simplify finalizing the transaction. Tata Motors, through its subsidiary TML CV Holdings, increased its tender offer price to €14.40 per share, valuing the deal at roughly €3.91 billion, with the offer set to expire on October 26 unless extended.

Additional measures passed include converting Iveco into a private limited company, appointing new directors, and ending its special voting share structure. The company also authorized a possible post-offer demerger, share sale, and dissolution of one outlet corporate entity as part of the restructuring plan. Completion now hinges on satisfying the remaining contractual conditions.