Two potential bidders have lined up to possibly buy Ford Motor Co.’s luxury auto brands, which have their U.S. base in Irvine.
The latest bid is said to have come from the private equity arm of JPMorgan Chase & Co.
Separately, the head of British construction-machinery JC Bamford Excavators Ltd. said he is interested in buying Ford’s struggling Jaguar, which is part of the automaker’s Irvine-based Premier Automotive Group.
Ford recently hired a mergers and acquisitions consultant to study the sale of some brands and possible alliances with other automakers.
“I know very little beyond what we’re reading,” said John Clinard, a spokesman with Premier Auto Group in Irvine. “Everything is on the table, and Ford Motor Co. in Dearborn is examining a wide range of scenarios.”
“No decisions have been made and nothing is likely to be announced until the latter part of September,” he said. “The company is taking a very much product-centric strategy, but we are endeavoring to align our product portfolio with consumer tastes.”
The Premier Auto Group includes the Jaguar, Land Rover, Volvo and Aston Martin brands. The Irvine operation reports to the worldwide headquarters in London.
