Get your bidding in: today is the deadline for bids on Ford’s soon-to-be-gone British brands, Jaguar and Land Rover. The automaker says it’s expecting up to six bids, although one of those six has previously stated that it doesn’t intend to make an offer.
Ford says that three private equity firms and three automakers are expected to bid. Joining Ripplewood Holdings and One Equity Partners is Cerberus Capital Management, the firm that recently purchased Chrysler from DaimlerChrysler.
Ford says that three automakers have expressed an intention to bid: Hyundai Motor and two Indian firms, Tata Motors and Mahindra & Mahindra, according to Automotive News. Ford’s statement directly contradicts previous reports that Hyundai, like Nissan and Renault, had decided they were not interested.
The Daily Telegraph says that Tata Motors is just in the “exploratory” stage and that a formal bid may or may not happen.
A representative for Citigroup, not one of the three banks Ford is using to complete the sale, said that Ford could get as much as $8 billion for Jaguar and Land Rover. But he also said that if Ford decided to sell its Swedish unit, Volvo, that sale could net as much as $7 billion on its own.
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07/19, 8:16 AM
posted by:
buenos
Tata might buy Jaguar and Land Rover… strange days indeed.
07/19, 9:18 AM
posted by:
55amg
Indian? Hyundai? Tata? WTF?
07/19, 9:20 AM
posted by:
meanpants555
My day/week/year is ruined unless Hyundai nicks it.
07/19, 9:27 AM
posted by:
MikeFX
Could Cerberus make Land Rover and Jaguar fit into the Chrysler and MB portfolio? Assume they would not just flip the companies, could all four coexist?
It could if they do what GM is doing with Cadillac and Buick. One division focuses on high-end luxury (Buick - chasing Lexus) while the other focuses on high-end performance (Cadillac - chasing BMW).
Ford needs to keep Volvo though, for platform sharing, safety engineering, and so they can have a premium brand that turns a profit!
07/19, 9:55 AM
posted by:
maximus
make that 7 bidders…I bid $500!!!
07/19, 10:31 AM
posted by:
CarStar
A Cerebrus buy-out could provide additional sales outlets for Chrysler (soon to be divorced from Daimler)
as well as a luxury 4WD and luxury car brand to replace Mercedes. Not sure where this would fit in with Tata, Mahindra, or Hyundai…or the other bidders. Hope Cerebrus is the winner.
07/19, 10:52 AM
posted by:
Stuart
I hope the least likely to buy would be cerburus. They will have their hands full with Chrysler let alone the 18 pension fund still tied around their neck.
Hopefully Ford will only consider Hyandai as the true bidder and sell to them. They have no premium badge that could actually sell anywhere near mercedes price range. They could put the money in and watch is prosper like Land rover has done under BMW/Ford.
Im still seriously surprised that Nissan/Renault have not yet put a bid in. Even Honda could have done well with this brand.
07/19, 11:56 AM
posted by:
Veda
LOL, Hyundai the company that was the laughing stock in US automotive is now powerful enough to buy one of the most “prestigious” brands in the world, Jag.
07/19, 12:54 PM
posted by:
CTS DRIVER
^^^^ aint that the truth.
07/19, 1:35 PM
posted by:
global_lightning
Proton. Combine Jag/LR with Lotus. British motoring, courtesy of Malasia.
07/19, 1:39 PM
posted by:
LP640
lol maximus. i cant imagine foolish indians running Jaguar. they will destroy it even more than Ford did.
07/19, 2:05 PM
posted by:
Piablo
I think I may need to look into Cerberus investment opportunites… I suspect a rebirth of Chrysler! That is of course, until the day we hear news of the latest Jaguar design underpinned by the Charger.
07/19, 7:35 PM
posted by:
Italiafan
Let me just say this…ahhhhhhhh.
If Hyundai buys Jag, my 2006 XJ8L won’t be worth ****. And I certainly would never buy another “jag” again. Look what the cracks about “being just a Ford” did for Jag’s prestige…imagine “Just a Hyundai.”
The brand will be flatlining no matter the quality of manufacturing.
07/20, 1:30 AM
posted by:
TOZO
If Proton wasn’t on the verge of collapse, that might have been an OK idea, global lighting.
Hyundai? India? Those are just an awful thoughts.
But maybe Jaguar can drag Hyundai down, so that might be good. But, I have heard reports about Hyundai not being interested.
Cerberus is the only one that makes sense.
07/20, 1:01 PM
posted by:
Scarface03
I don’t see a Hyundai purchase as being bad. No one seems to say that Bentley and Rolls Royce have lost their British-ness because they have German owners. Likewise, before the sale of Aston Martin, Astons didn’t really lost their mystique because of Ford’s ownership.
The problem with Jag is that Jags actually LOOKED like Fords. I happen to like where the Jag styling direction is heading. I don’t see Hyundai ownership messing that up.
07/20, 2:26 PM
posted by:
Get Real
I would bid, but throwing money into a money pit is not my idea of a good financial move.
07/20, 7:46 PM
posted by:
swamprat
I see Hyundai actaully giving Jag the cash it needs to survive and possibly prosper. Ford did give it cash, but then tried to turn its products into Fords. It culminated in the awful X-type.
I hope that Hyundai cancels the X-CF or whatever its called. It looks a crushed tin can.
07/21, 1:40 AM
posted by:
TOZO
Maybe it’s just time to shut down production at the Jaguar plant and start building Focuses there. ):
07/21, 9:24 AM
posted by:
BLISS
I HOPE THEY ARE IN GOOD HANDS….WHO EVER PURCHASE THE TWO MARQUES.
07/21, 9:26 AM
posted by:
BLISS
7 BILLION FOR VOLVO…..THATS ALOT A MONEY.