Tata Motors’ Iveco Group Takeover Offer Gets Consob Approval; Acceptance Opens September 7
TML CV Holdings B.V., a wholly owned subsidiary of TML CV Holdings Pte. Ltd., has received regulatory approval from Italy’s Consob for its voluntary total tender offer to acquire all common shares of Iveco Group N.V.
The approval marks an important step in the proposed transaction involving Iveco Group, with the tender offer scheduled to open on September 7, 2026.
Consob Approves Iveco Group Offer Document
Consob, Italy’s securities market regulator, approved the offer document through Resolution No. 24119 dated September 3, 2026.
The offer is being promoted by TML CV Holdings Pte. Ltd. through TML CV Holdings B.V. for all issued common shares of Iveco Group N.V.
The development clears the way for shareholders to participate in the tender offer, subject to the terms and conditions contained in the offer document.
Acceptance Period: September 7 to October 26
The acceptance period will begin at 8:30 a.m. CEST on September 7, 2026, and is scheduled to close at 5:30 p.m. CEST on October 26, 2026, unless extended.
The offer provides shareholders with a consideration of €14.10 per Iveco Group common share, cum dividend.
Payment Date Set for October 30
For shares tendered during the main acceptance period, payment of the offer consideration is scheduled for October 30, 2026, which is the fourth trading day following the scheduled end of the acceptance period.
The payment date could change if the acceptance period is extended.
Possible Reopening of the Offer
Subject to the applicable legal requirements, the offer may be reopened for five trading days following the payment date.
Based on the current timetable, the potential reopening period would run from November 2 to November 6, 2026.
If the reopening takes place as scheduled, payment for shares tendered during this period would be made on November 13, 2026.
What Investors Should Watch
The Consob approval represents a key regulatory milestone for the Iveco Group transaction. Investors will now focus on:
- The level of shareholder participation in the tender offer
- Whether the acceptance period is extended
- The outcome of the offer
- The implications of the transaction for Tata Motors and Iveco Group
- The detailed terms and conditions contained in the forthcoming offer document
The company said the offer document will contain detailed information on the terms of the offer and the procedures for accepting it, with its publication and distribution to be announced separately.
Points to consider
The approval of the offer document by Consob moves the proposed acquisition of Iveco Group into the shareholder acceptance phase.
With the offer priced at €14.10 per share and the acceptance window running from September 7 through October 26, 2026, the next major milestone will be the level of shareholder participation and the eventual outcome of the tender offer.
Investors should rely on the final offer document for the complete terms, conditions, regulatory requirements, and potential consequences of participating in the offer.
Source: Company regulatory announcement dated September 4, 2026.