Tata Motors is inching closer to acquiring Jaguar and Land Rover. Sources in the know told DNA Money that the Tatas are the only serious bidder for the Jaguar-Land Rover (JRM) marquee now.According to them, Mahindra & Mahindra is yet to put in a formal bid for the two brands.
Tata Motors is on a good wicket, because the other strong contenders, namely the who’s who of global private-equity firms, named as possible bidders, may also not pass muster.Ford Motor Company, it seems, is keen on selling the two brands to dedicated car companies only.
The Tatas have appointed Morgan Stanley as their merchant banker for the transaction and they may be ready to pay between $1.5-2 billion.
Read more in The DNA Money article.
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