Bidding for Ford include several private equity firms, which are being aided by former Ford CEO Jac Nasser and ex-president and chief operating officer Sir Nick Scheele. Now it’s been revealed that the former chief executive and chairman of the Jaguar and Land Rover brands, Bob Dover, is working with US buyout group TPG over a possible bid.
One major factor that could potentially delay the sale is a tightening in global credit markets, something current Blue Oval CEO Alan Mulally considers a prominent issue. A lack of credit means it’ll be harder for bidders to raise funds for the takeover but Mulally has told reporters from Automotive News that he expects things to settle soon.