Petrus, which holds between 3% and 5% of Iveco common shares, argues the offer has stagnated while the broader market has surged. Since the initial agreement in July 2025, an investment in the STOXX Europe 600 has climbed by more than 20%, yet the acquisition price has remained frozen. Petrus contends that the €14.10 valuation was inadequate at the time of the announcement, and the extended wait has only exacerbated the disparity between the offer and the company's true market standing.

The investment firm, known for its active management approach, stated that shareholders are currently bearing the full financial burden of the missed deadlines. By recommending that investors hold their positions rather than tender, Petrus aims to force a renegotiation of terms. The firm maintains its willingness to engage with both Iveco and Tata Motors leadership to secure a deal that better reflects current equity valuations.