As more and more news is released on the chase to buy Jaguar and Land Rover from Ford, it appears more and more companies are induced into getting involved in the combat.
We have seen two former Ford execs getting involved, Jac Nasser, who was CEO of Ford from 1999 to 200l, and Sir Nick Scheele, Ford's president and COO from 2001 to 2005. Nasser is being backed by One Equity Partners and Scheele is being supported by Ripplewood Holding. Now a former chief executive of Jaguar and Land Rover is getting involved in the mix. He is Bob Dover, who has forged ties with TPG to make the bid for the marquees.
Dover may have the edge. First, investment bank UBS, which advised Ford on the sale of Aston Martin, is now advising TPG and Dover. Furthermore, according to Telegraph, pundits say that Dover's inside knowledge of Jaguar and Land Rover (he as instrumental in the development of the Land Rover Discovery, the Jaguar XK8 and XJ, and the Aston Martin DB7 Vantage and Vanquish) is certainly going to be an advantage.
If the duo of Dover and TPG win out, it is not certain that Dover would become chief executive. However, he will probably take on some kind of operational role. Our take? Maybe it's right for the guy who knows more about the companies that are going to be acquired should be the one that ultimately wins the bid. For those not paying attention, that would be Dover. But, on the other hand, both Nasser and Scheele are familiar as well but only from the side of the owner, not the ownee. Who do you think should have the advantage?
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