Tata and Mahindra & Mahindra in bid for Jaguar and Land Rover

The Tata group is mulling taking over iconic British brands Land Rover and Jaguar, presently owned by the Ford Motor Company, according to media reports. Both brands hold royal warrants from Queen Elizabeth II and Prince Charles.

Tata might face competition from tractor and utility vehicle major Mahindra & Mahindra. The deal is estimated at being around $1.5 billion. According to industry analysts, Tata might finance the bid in conjunction with Fiat, which owns high-end brands Ferrari and Alfa Romeo. Tata Motors may also be looking to team up with private equity players for the deal.

M&M’s real interest is in Land Rover but since the two brands are being offered as a package deal, it is looking at a combined bid. Tata Motors and Mahindra and Mahindra refused to comment on the speculation.