Tata Motors, India's biggest automobile company, is understood to be in early stages of evaluating a bid for acquiring the Jaguar and Land Rover marques from Ford Motor, British media reports said.
Tata Motors is understood to have instructed advisers in the past fortnight to begin evaluating the merits of a joint offer for Jaguar and Land Rover, which have been earmarked for disposal by struggling American car giant Ford, 'The Daily Telegraph' said.
If successful, it would rank among India's biggest overseas takeover deals, the report said, citing unidentified sources.The report also said Tata Motors is understood to have signed a confidentiality agreement with Ford in recent days.
Besides Tata, other car makers may be interested in bidding, while a formal auction would also be likely to attract private equity firms, it added.
Read more in The Economic Times article.
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