Ford Vehicle

“Tata, the Indian company trying to bring the world’s cheapest car to the South Asian country, is expected to be named as the preferred bidder for Fords Land Rover and Jaguar brands in the next few days,” London Times said in a report on Monday. Quoting a source close to the development, the newspaper said an announcement is expected to be made in the coming days. “A source said that although nothing could be confirmed, an announcement is expected in the next few days….

If Ford chooses Tata, it will be an historic moment for the car industry, marking the first time that a major Western car group has been bought by an Indian company,” the report added. Three bidders — Indian conglomerates Tata, Mahindra and Mahindra, and American private equity firm One Equity - are in the race for the luxury brands. Reportedly, the bids for Jaguar and Land Rover are in the range of 1.6 billion dollars to 2.2 billion dollars.

Meanwhile, Wall Street Journal said, quoting people familiar with the process, that Tata seemed to have an edge for the takeover of the two luxury brands.