They said it would benefit both brands.

Following the highly-anticipated return to the Land Rover Defender analysts Sanford C. Bernstein stated that BMW should purchase Jaguar Land Rover.

According to Automotive News Europe, Bernstein analysts Max Warburton and Max Warburton said that the Bavarian luxury brand could be greatly benefited if it purchases the British luxury brand Tata Motors from India.

“BMW is too capitalized and awash in cash. According to a research note, analysts said that the company has reached its limits in terms of growth for both its product ranges and brand.

Analysts stated that JLR is currently in serious financial and operational difficulties. However, a larger partner could help solve these problems. This was after Tata Motors’ increasing losses and a slowdown in China, as well as issues surrounding Brexit.

According to Bernstein analysts, BMW could see a 20 percent increase in earnings by buying JLR. It could also lead to a quarter rise in the German marque’s sales volume. JLR could be bought by BMW for $11.2 billion (9.3 billion pounds), but Tata will need to let go of its pride and BMW will need to be more conservative.

However, Bernstein analysts stated that the relationship between these companies would be “emotionally complicated.” This is due to the fact that both companies had a relationship with Land Rover in the 1990s, when BMW was owned by Land Rover.

Analysts stated that it was a difficult period for the Bavarian firm and that there are still executives in Munich affected by the experience.

As it stands, BMW & JLR announced collaboration last Juni in electric cars. The partnership between JLR and BMW will only grow if JLR is bought in the future. This would again be a benefit for both automakers, history aside.