Daimler Hopes To Offload Tata 5.34% Ownership On-The-Cheap

Posted Mar 8, 2010

Word on the street is that Daimler is trying to sell their 5.34% share in Tata Motors for cheap.  The company is hoping to sell the ownership at a price that is about 4-7% below the close of Monday’s stock price.  This way they can raise about $429 million.  Tata’s stock price has risen about 19% since February 26 as sales for Jaguar and Land Rover has recovered. [TruthAboutCars]