Tata-Jaguar deal: Timeline of the Historic deal
2005 | - | Ford starts facing problems with pension and health care costs and falling sales in North America. Starts reporting losses from the second quarter |
2006 | - | Alan Mullaly takes over as chief executive and oversees a $12.7 billion loss, the largest in the company's history Ford decides to sell its Aston Martin brand |
May, 2007 | - | Ford closes the Aston Martin sale for $848 million |
June, 2007 | - | Ford indicates that it might look at buyers for Jaguar and Land Rover marques |
July, 2007 | - | Ford receives preliminary bids for the brands. Reports say that TPG Inc., Cerberus Capital Management Lp. Ripplewood Holdings, One Equity Partners Llc are in the fray, along with Tata Motors Ltd and Mahindra & Mahindra |
August, 2007 | - | Ratan Tata, chairman of Tata Motors Ltd, confirms that his company was bidding for the premium car makers |
November, 2007 | - | Investment bankers say that Apollo Alternative Assets is teaming up with Mahindra & Mahindra Reports say that Ford has shortlisted three bidders—Tata, Mahindra and One Equity—for further negotiations with its trade unions Unite, the trade union representing Land Rover and Jaguar workers, says it supports Tata Motors' bid |
December, 2007 | - | The three bidders submit their bid |
January , 2008 | - | Ford names Tata as "preferred buyer" |
March, 2008 | - | Tata, Ford sign deal |
- Contributed by Vaibhav Agarwal