Ratan Tata who flew to the US to meet Ford's then CEO, Bill Ford. But the meeting took a humiliating turn. Bill Ford reportedly berated Ratan Tata, saying that Tata Motors had no business being in the automotive sector. The global economy shifted. By 2008, Ford found itself struggling in the midst of the Great Recession, and the company's financial woes deepened. Ford was near bankruptcy, saved only by a government line of credit. The tables had turned. Seizing the opportunity, Ratan Tata acquired Jaguar and Land Rover from Ford. Ironically, Ford executives reportedly acknowledged that Tata was now doing them a "favor" by taking the brands off their hands.
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