Tata Motors seems to be winning the race for the acquisition of Jaguar and Land Rover car brands. The prospective deal will be another feather in Tata’s cap after it acquired British steel major Corus in early 2007.
Although compatriot Mahindra and Mahindra is also trying to woo the British icons, Tata motors has emerged the preferred bidder for Jaguar and Land Rover companies which are finding it difficult to cope with the increased competition from Asian car brands. As the owner of the brands Ford Motors is planning to concentrate on its North American operations it wants to off-load Jaguar and Land Rover.
The third bidder, a private equity firm One Equity Partners, is not a serious contender. Anyway, Indians have the reason to smile as the brands look likely to come to India, either through Tata or through Mahindra. Both the companies have immensely contributed to the progress of Indian industries. Tata is taking India to the territories Indians dared not venture. As for Mahindra, its tractors and pickup trucks have carved a niche in international market.