Petrus Recommends Shareholders Not to Tender at €14.10 per Share in Tata Motors' Offer for Iveco
Petrus Legal Strategies and Petrus Advisers, collectively holding 3%–5% of Iveco Group N.V., have advised shareholders not to accept the all-cash tender offer from Tata Motors priced at €14.10 per share. The firm criticized the repeated delays in completing the acquisition since it was first announced a year ago with an expected completion date in early 2026, now pushed back to November 2026. Petrus noted that despite these delays, there has been no increase in the offer price and highlighted that Iveco's listed peers have seen significant value growth while STOXX Europe 600 gained over 20% since July 2025. Petrus argues that €14.10 did not reflect fair value when initially proposed, a gap it claims has widened due to the prolonged delay and market performance of comparable assets. The firm remains open to engaging with Iveco and Tata Motors on terms more favorable to shareholders but currently advises against tendering shares into the transaction.
Topics: Iveco Group N.V. shareholder opposition Tata Motors tender offer