Ford
Motor Co. has pegged July 19 as the date for first-round offers for both
Jaguar and Land Rover,
according
to the Financial Times. However, the Dearborn, Mich., automaker reportedly
has not collected all the documentation that potential bidders will want
before placing a serious offer, so as was the case in the Aston Martin
auction, it could be a drawn out ordeal. Also, as was the case in
DaimlerChrysler AG's sale of Chrysler Group, bids for the two British
automakers are likely to come from private equity firms rather than other
automakers, according to the FT. Earlier reports pegged Blackstone Group LP,
One Equity Partners and Ripplewood Holdings LLC as possible bidders, along
with Chrysler's new owner Cerberus Capital Management LP. —Matthew Wurtzel
See
story from the Financial Times
See
earlier post
See
Ford Dealwatch
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