Leonardo Faces Pressure to Boost Bid for Iveco Defense Unit
A consortium backed by Italy's Leonardo SpA is facing pressure to raise its offer for Iveco Group NV 's defense unit after being outbid by European rivals, people with knowledge of the matter said.
Leonardo — the only Italian suitor in the process — made the lowest offer in the first round of bidding, the people said, asking not to be identified because the information is private. As a result, the company is coming under increased political pressure to improve its proposal to ensure the business remains in local hands, according to the people.
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