Iveco Shareholders Back Tata Motors' Takeover Offer at Amsterdam Meeting

what happened

Shareholders of Iveco Group voted for every resolution the board put forward on the voluntary public offer launched by TML CV Holdings, a vehicle of Tata Motors. Tata Motors reported the outcome on Friday. The vote was held at a special shareholder session in Amsterdam. Earlier, on October 9, the Indian manufacturer lifted its offer from 14.10 to 14.40 per share and described the new price as final; the acceptance window closes October 26.

Announced in July 2025, the deal values Iveco's commercial vehicle unit at 3.8 billion. Defence operations are excluded, since Iveco plans to sell them to Leonardo. Tata Motors will also take over Exor's 27.06% holding. Approved resolutions cover amendments to Iveco's articles that take effect once the offer settles, and a switch from a listed company to a private one after delisting. A possible demerger is also in place if the buyer reaches roughly 80% of ordinary shares, followed by a dissolution and liquidation if that demerger goes ahead. New board members take office after settlement.

why it matters

For investors, the vote removes one of the main formal hurdles, but the transaction is not finished: the outcome still depends on settlement of the offer and the remaining conditions. Delisting would take the shares of a major European truck maker off the exchange, and a demerger or liquidation would reshape what remains of the company. For the commercial vehicle market, this is a notable consolidation involving an Indian group.

market impact

Iveco, Tata Motors: shareholder approval clears a key step in the takeover, reshaping Iveco's structure

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