Tata, One Equity likely to join hands for Jaguar buy

Tata''s bid for the legendary British car brands Jaguar and Land Rover (JLR) is hotting up again in the corporate corridors. Tata Motors and One Equity Partners are tipped to be the front runners as the bidders get whittled down. But now there is a new twist to the acquisition story. There might be an alliance between the two parties for a joint bid to avoid any conflict of interest as well as cementing a strong undefeatable bid for JLR. Tata Motors had reportedly signed on JP Morgan and Citi as advisors on it bids. One Equity Partners is the private equity arm of JP Morgan fronted by Jac Nasser. The shortlisted bidders are now initiating talks with Unite, the workers union that controls the workforce at JLR. The unions have ensured that Ford adds a clause to the deal that guarantees long term contracts to Ford run engine and component suppliers to JLR, which would also mean no job cuts in the entire JLR pipeline.