In the afternoon of March 8, 2024, Iveco's shares saw a significant increase on the stock market, closing up by 2.5%. Speculations suggest this surge was due to potential interest from Leonardo in Iveco’s Defence Vehicles division, which specializes in the design and production of vehicles for defense and civil protection. According to Il Sole 24 Ore, Iveco and Leonardo have held exploratory talks over the last six months, with the deal's valuation estimated around 750 million euros. So far, both companies have not commented on these reports. The market now looks forward to March 14, when Iveco will hold its Capital Markets Day, presenting the 2024-2028 industrial plan.
This interest aligns with the current trend of rearmament and the significant investments expected in this area by wealthier nations. In the defense sector, Leonardo is a leading international player but lacks its own land armaments division. Iveco Defence Vehicles is part of a consortium with Leonardo Oto Melara, producing armored vehicles. Moreover, a merger between Iveco Defence Vehicles and Oto Melara could position Italy within the Franco-German Mgcs (Main Ground Combat System) program, which is designing a new generation of tanks.
