Tata buys JLR for $2.65 bn

After months of speculation, Tata Motors has closed the Jaguar Land Rover deal at $2.65 billion. The deal is expected to be signed later in the evening today in London. Sources said that industry experts have viewed this as an expensive deal. Earlier, scotching rumours of outsourcing, Tata is said to have assured Unite that it will keep all three of Jaguar and Land Rover's British plants at Solihull and Castle Bromwich in the Midlands and Halewood on Merseyside.