Tata Motors' takeover bid for Italian truck maker Iveco has cleared the 80% acceptance threshold, reaching 87.8% on the last day of the offer, an Italian stock market filing showed on Monday.
Tata now holds 89.42% of Iveco's common share capital based on provisional results, both companies said. Final results will be communicated before market opening on October 29.
The offer is set to be reopened during November 2-6, Iveco said. The tender offer ending Monday ran from September 7.
The offer price was raised to €14.40 per share, from €14.10 per share, on October 9. Tata Motors agreed last year to buy Iveco's commercial vehicle business in a deal valued at €3.8 billion.