Ford gets bids for Jaguar, Rover

NEW DELHI: American car major Ford on Thursday said it has received bids from some companies for acquiring its marques Jaguar and Land Rover - the two famous brands in which India's Tata group has been reported to be interested.
"Ford and its financial advisers have had contacts from third parties and they are evaluating those as part of Ford's strategic review.These are preliminary discussions only and no decisions have been made," Ford spokesperson John Gardiner said. About Tatas being interested, he said: "I cannot provide any guidance on names of interested parties, numbers of interested parties, or a time-line."
In June, the company had said it was working with its financial advisors to determine the best future for Jaguar and Land Rover. Gardiner said the review was continuing and Ford was now actively investigating its options in terms of other possible actions.
"We are not ruling anything in or out," he added. India's Tata Motors is reported to have made its bid for the two marquees but a company spokesperson had denied to comment on "market speculations". Global private equity firms, including Cerberus Capital Management, investment group that purchased Chrysler, and Ripplewood Holdings, are also reported to be in race to acquire the two cult auto brands.