Thread: Indian tractor firm wants Aston Martin

Mahindra looking to close deal for British firm this weekIndian tractor maker Mahindra and Mahindra is keen to finalise its bid for Aston Martin by the end of the week, according to sources close to the deal.
Mahindra is thought to be offering a maximum of 250m for the firm, which would buy at least 40 per cent of Astons equity, although for that sum Mahindra may want to increase its stake for 50 per cent.
The Indian firm is bidding against a private equity firm, InvestIndustrial, which has reportedly bid between 200 and 250m. Current owner Investment DAR paid 479m for Aston in 2007.
Many industry analysts have expressed doubts about Mahindras acquisition of Aston, pointing to a lack of synergy with any of Mahindras other businesses and the folly of buying trophy companies. But the bid has received support from the Unite union, which said it would prefer the Indian company to own Aston than a private equity company.
Investment DAR has consistently denied that it is looking to sell Aston Martin.