From the common man's car to icons of the upper echelons of society, Tata Motors will now have a presence in all the segments, both in India and abroad. Going by market speculation, it's now just a matter of hours before Tata Motors completes its acquisition of the British marquees Jaguar and Land Rover belonging to Ford Motor. This one lacks the down-to-the-wire adrenalin rush of the Tata bid for Corus, but nonetheless, the deal has been dominating headlines for weeks. On Tuesday, as speculation about the deal reached dizzying heights, a section of the electronic media reported that Tata Motors had agreed to buy the Jaguar and Land Rover luxury units for $2.65 billion and that the deal was closed. But according to British media reports, the two Companies plan to announce the agreement on Wednesday, after employees at both carmakers return from their Easter holidays. When contacted, a Tata Motors spokesperson said, "The discussions are still on.' He declined to comment further on the television reports. The Ford spokesperson was not available for comment. The British reports suggest that the Tata group has agreed to pursue the existing business plans of Jaguar and Land Rover through 2011 and that Jaguar would continue to be headquartered in Coventry, England. Also, there will not be any major cuts at assembly plants in the UK. According to analysts, the deal is expected at a fair value estimated in the range of $2.0-2.2 billion. "The Tatas want to close at $2 billion,' said an analyst. Earlier, it was expected to be in the range of $2.7-3.0 billion. Tata Motors had launched a $3-billion syndicated loan to fund its purchase of Jaguar and Land Rover. It has signed a deal with Citigroup and JPMorgan to help finance a potential purchase of the two luxury brands, according to reports. The company recently also made an announcement on the BSE that it plans to raise additional long-term funds of up to Rs 4,000 crore, equivalent to $1 billion, for its overall expansion plans. Tata said that it has major growth plans to consolidate its position in the domestic and global Markets, both in the commercial and passenger vehicle businesses, and would achieve that by upgrading and enhancing its product portfolio, expanding manufacturing facilities and through strategic acquisitions and alliances.