NEW YORK TIMES
The price of the Ford Motor Company’s $2.5 billion acquisition of Jaguar P.L.C. was five times the British auto maker’s actual net asset value, Ford disclosed in its annual report, which was sent out on Monday. Ford said it paid $2 billion over what it said was the fair value of Jaguar’s net assets, which it pegged at $500 million.
At the time of the acquisition last December some auto analysts said Ford was paying a significant premium for the British company. But Ford defended the purchase by saying it expected to increase Jaguar’s sales significantly. In the report, Ford said the $2 billion it paid over Jaguar’s net asset value will be spread over 40 years.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.