Tata Motors completed the initial settlement of its Iveco tender offer on October 30, 2026, bringing the commercial-vehicle maker into its group. The offeror now holds approximately 89.42% of Iveco Group’s common share capital, excluding treasury shares.

Key Takeaways

  • The offeror holds 238,157,212 Iveco common shares after settlement at €14.40 per share in cash.
  • The offer will reopen from November 2 through November 6, with settlement scheduled for November 13.

Iveco tender offer reopens in November

The initial settlement covered shares tendered during the acceptance period. The €14.40 cash price per common share was stated on a cum-dividend basis.

The earlier tender offer launch announcement set the initial cash price at €14.10 per share and the acceptance period from September 7 to October 26. The final results were announced on October 27.

The reopening will run from 8:30 a.m. to 5:30 p.m. Central European Time on each of the five trading days. The offeror said it would communicate further post-offer steps in due course; those could include a purchase procedure, a Dutch legal squeeze-out or a post-offer demerger and liquidation, as applicable.

Board changes and results date

Iveco’s new board is chaired by N. Chandrasekaran, with Olof Persson serving as chief executive. P. B. Balaji, Girish Wagh, Guenter Butschek and Charles Nichols also sit on the six-member board.

All special voting shares outstanding immediately before settlement were repurchased for no consideration, leaving none outstanding. Iveco also moved the release of its third-quarter 2026 financial results to November 3 from November 5.

Next milestone

The next scheduled milestone is the reopening of the offer on November 2.

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