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Tata bid for Jaguar, Land Rover boosted

Unions back offer, say Tata would be best suited to manage the luxury brands if Ford sells them - reports.

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November 22 2007: 7:23 AM EST

LONDON (CNNMoney.com) -- Unions at Jaguar and Land Rover are backing Tata Motors' offer for the brands, which are being sold by Ford Motor, according to published reports.

The Financial Times and Wall Street Journal reported that workers at both brands have decided to support Tata's bid over rival offers from Indian group Mahindra & Mahindra and private equity firm One Equity Partners.

The unions prefer to remain part of Ford, but believe Tata would be best suited to manage the luxury brands should a sale go through, the reports said.

Union support could give Tata a boost in winning the politically sensitive deal, the newspapers said.

Cash-strapped Ford (Charts, Fortune 500) has said it expects to conclude an agreement to sell Land Rover and Jaguar by early next year at the latest. To top of page

Ford trims losses, nearly breaks even
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