Tatas bid $2.05 bn for Land Rover, Jaguar

Jaguar and Land Rover, two iconic auto brands in the UK, are set to see a change of ownership in the new year, with their current American parent Ford Motor looking to finalise a winner by the end of 2007 or early 2008.

The bids from leading Indian conglomerates and the front-runners for the deal, Tatas and Mahindras, are worth over $2.05 billion and $1.9 billion, respectively, sources close to the development said.

While no official confirmation could be obtained, another suitor, a private equity firm led by former Ford CEO Jacques Nasser