P.M. BRIEFING : Jaguar Irate Over Ford’s Overture

British luxury car maker Jaguar has reacted with hostility to Ford Motor Co.’s surprise announcement that it planned to buy a stake of up to 15% in the firm, the Financial Times said today.

“It is unwelcome and an unwelcome surprise,” David Boole, Jaguar director of communications, told the newspaper. “We are genuinely surprised they have done this without consultation.”

Jaguar, whose profits plunged in the first half of this year because of weak U.S. sales, loses British government protection against takeovers at the end of next year. The Jaguar board is expected to meet Friday to discuss Ford’s intentions.

Boole said: “If you plan to behave in a friendly way to a small company like Jaguar, it is a curious way to start the process by giving the chairman 10 minutes warning that you are going to buy 15% of his company.”