Eicher set to make $1.8-$2 bn binding bid for Ducati: report

Mumbai: India’s Eicher Motors Ltd, maker of Royal Enfield classic motorbikes, is set to make a binding takeover bid for Italian motorcyle manufacturer Ducati for $1.8 billion-$2 billion, the Economic Times daily reported on Thursday.

Eicher is currently finalising and structuring terms with global banks and consulting companies ahead of a bid deadline at the end of the month, the paper said, quoting unnamed sources. (bit.ly/2eHOiI5)

Sources told Reuters in June that U.S. motorcycle maker Harley-Davidson and India’s Bajaj Auto Ltd were among companies preparing bids for Ducati, which is being put up for sale by German carmaker Volkswagen.