Tata buys Jaguar and Land Rover

News Type: Event — Seeded on Wed Mar 26, 2008 3:20 AM EDT

Article Source: Guardian Unlimited

business, ford, tata, jaguar, land-rover, rover-jaguar-deal

It is understood that a deal between Tata and Ford over the sale of two of the best known names in British car making was concluded last night after months of painstaking negotiations.

Ford refused to confirm a deal had been signed last night, saying any significant development had to be communicated to employees first. However, formal confirmation that the two sides have reached agreement is expected via simultaneous announcements in India, Britain and the US at around noon GMT today.

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{"commentId":1620670,"authorDomain":"harshpaul"}

harshpaul

Yesterday the two sides were refusing to be drawn on reports from India that Tata had agreed to pay $2.65bn (£1.3bn) for the marques. The Reuters news agency quoted a source close to the deal as saying: "That figure of $2.65bn is highly unlikely. You have to come south from that by quite a bit."

{"commentId":1620670,"threadId":"240149","contentId":"1390769","authorDomain":"harshpaul"}

2 votes

#1 - Wed Mar 26, 2008 3:21 AM EDT

{"commentId":1620883,"authorDomain":"Spaman"}

Spaman

My company looks after much of their IT infrastructure systems and services - still waiting to hear what this will mean for us...

{"commentId":1620883,"threadId":"240149","contentId":"1390769","authorDomain":"Spaman"}

2 votes

#2 - Wed Mar 26, 2008 7:34 AM EDT

{"commentId":1621046,"authorDomain":"harshpaul"}

harshpaul

I have an admiration for the Tata group and its sense of 'fairplay'. In this case, however, I can't help being a bit cynical. I guess Tata will want to cut costs, and one way of doing that would be to bring its own IT services division, TCS into the field.

{"commentId":1621046,"threadId":"240149","contentId":"1390769","authorDomain":"harshpaul"}

1 vote

#2.1 - Wed Mar 26, 2008 8:53 AM EDT

{"commentId":1621236,"authorDomain":"Spaman"}

Spaman

Indeed yes - I've had no dealings with TATA personally, but they may find it cheaper to leave the IT where it is - It costs a bunch to move it.... but we'll see

{"commentId":1621236,"threadId":"240149","contentId":"1390769","authorDomain":"Spaman"}

1 vote

#2.2 - Wed Mar 26, 2008 9:47 AM EDT

{"commentId":1622046,"authorDomain":"harshpaul"}

harshpaul

I'll have to agree with you on this. You know these things much better than I do.

{"commentId":1622046,"threadId":"240149","contentId":"1390769","authorDomain":"harshpaul"}

1 vote

#2.3 - Wed Mar 26, 2008 12:45 PM EDT

{"commentId":1622107,"authorDomain":"Spaman"}

Spaman

Where did you come across TATA - its nice to hear something good about companies who use fairplay...

{"commentId":1622107,"threadId":"240149","contentId":"1390769","authorDomain":"Spaman"}

2 votes

#2.4 - Wed Mar 26, 2008 12:59 PM EDT

{"commentId":1624689,"authorDomain":"harshpaul"}

harshpaul

I've never come across the Tatas in a professional environment, but I am an Indian, and its a very well respected business house here. They have earned heaps of goodwill and have never been in any controversy in their long history of operations here.

BTW, i hear they are going to keep the IT Infrastructure as it was. You were right.

{"commentId":1624689,"threadId":"240149","contentId":"1390769","authorDomain":"harshpaul"}

1 vote

#2.5 - Thu Mar 27, 2008 2:25 AM EDT

{"commentId":1625019,"authorDomain":"Spaman"}

Spaman

Thanks for the news Paul - good to hear

I have several Indian colleages I work with closely, so have never had any doubts on Indian integrity ...... and I just love all those festivals you have

{"commentId":1625019,"threadId":"240149","contentId":"1390769","authorDomain":"Spaman"}

2 votes

#2.6 - Thu Mar 27, 2008 7:26 AM EDT

{"commentId":1625056,"authorDomain":"harshpaul"}

harshpaul

Thanks Spaman. :-)

{"commentId":1625056,"threadId":"240149","contentId":"1390769","authorDomain":"harshpaul"}

1 vote

#2.7 - Thu Mar 27, 2008 7:42 AM EDT

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Breaking News:India's Tata acquires Jaguar, Land Rover for 2.3 billion US dollars	The Sydney Morning Herald	Wed Mar 26	3
Ford sells Jaguar, Land Rover to India's Tata	msnbc.com	Wed Mar 26	0
Ford Sells Jaguar, Land Rover to Tata	Associated Press	Wed Mar 26	1
Tata, Ford reach $2.3-billion deal on Jaguar, Land Rover \| Freep.com \| Detroit Free Press	The Detroit Free Press	Wed Mar 26	0
Tata: Master of the Gentle Approach	Business Week	Tue Mar 25	0

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Tata buys Jaguar and Land Rover

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