Ford Motor Co. put Jaguar and Land Rover on the block in June in a bid to raise cash to fund its ongoing restructuring. Tata, who is believed to be vying against fellow Indian automaker Mahindra & Mahindra Ltd. and private equity firm One Equity Partners for the units, has been seen as the likely winner since securing an endorsement from unions in November.
According to the AP report, Ford could name Tata as the lead bidder by the end of the week, but a final deal is unlikely before January. The nameplates and their U.K. factories are expected to fetch between $1.5 billion and $2 billion, according to sources.
Mumbai-based Tata has long been linked to the units, and it is believed to have a particular interest in the Land Rover brand. The company already has a strong presence in the U.K., with its parent, Tata Group, owning Tetley Tea and steelmaker Corus Group plc. — Lou Whiteman
See AP story
See TheDeal.com story on Ford’s auction
See DealScape post on Tata winning the union endorsement
See TheDeal.com story on Tata's interest<
See Dealwatch: Ford Motor Co.
