GM Unlikely to Battle Rival Ford Over Jaguar--Analysts

General Motors Corp. is unlikely to enter into an expensive bidding war for Jaguar PLC, which would pit the No. 1 U.S. auto maker against its archrival Ford Motor Co., analysts say.

“I just don’t believe GM has the need for Jaguar to the extent Ford does,” Charles Brady, an analyst with Oppenheimer & Co., said.

GM had no comment on rumors of its potential interest in Jaguar.

Ford announced Tuesday that it wanted to buy up to 15% of the British luxury car maker, which was seen as a precursor to a bid for the entire company.

Under Jaguar’s articles of incorporation, a maximum of only 15% of Jaguar may be sold to outside interests until the end of 1990. That restriction, which was imposed when the British government privatized the auto maker in 1984, can be relaxed with the approval of Jaguar and its shareholders.

But Jaguar, whose board meets today to discuss the move, has reacted negatively to the Ford move. “It’s unwelcome and an unwelcome surprise,” said a Jaguar spokesman in London. “We are genuinely surprised they have done this without consultation.”