The final bidders vying for the Jaguar and Land Rover labels, India’s Tata Motors and Mahindra & Mahindra (M&M), plus private equity firm One Equity Partners, have reportedly put forward their final bids for the British marques. The bids are expected to be in the range of $1.5-$2 billion, although the final numbers could be revised pending the outcome of further negotiations.
“The bids are competitive, and it will be a close call for [Ford],” the Economic Times cited unnamed sources as saying.
Another source, the Hindustan Times, said final bids were likely to be in the range of $1.7-$2.2 billion. “Ford is expected to consider these bids later next week,” it said, citing a source close to the transaction.
Ford, meanwhile, has previously stated it will announce the new owners by the end of this year or early next year.