Wednesday, November 14, 2007
Chase for Land Rover and Jaguar hots up
Mahindra & Mahindra has teamed up with American buyout firm Apollo in its battle to win the bidding war for Ford marques Land Rover and Jaguar.
Mahindra & Mahindra is thought to be one of three remaining bidders, along with fellow Indian carmaker Tata Motors and OneEquity Partners, a buyout firm funded by U.S. investment bank JP Morgan.
This week, bidders will make presentations to Secretary of State for Business and Enterprise John Hutton and to union leaders.
While reports have said the race for the two marques is currently too close to call, there is speculation that it will come down to the two Indian companies.
DATED: 14.11.07
FEED: MT
