Fiat Industrial suggests merger with CNH
CNH Global‘s Board of Directors received a proposal from Fiat Industrial regarding a combination transaction between the two companies that would form a combined holding company.
The proposed merger was suggested in a letter sent on May 30 by Sergio Marchionne, chairman of Fiat Industrial S.p.A., to the Board of Directors of CNH.
The Board of Directors of CNH expects to evaluate the proposal through a committee of independent directors which would retain independent financial and legal advisers to assist it, according to a CNH press release.
The CNH Board of Directors of CNH advises the company’s shareholders and others considering trading in its securities that it has not yet evaluated the proposal and that there is “no assurance that the proposal will lead to any definitive offer, that any agreement will be reached or that any transaction will be consummated.”
At this stage, no action by the company’s shareholders is required. CNH notes notes in the press release that further announcements will be made by the company “when and as appropriate.”
From our partners
Developing a solid relationship with Demolition Technologies Specialized Services enables Crushing Tigers…
MORE FROM Manufacturers News
Manufacturer news: McLanahan hosts first Frac Sand Processing School in Wisconsin; The Volvo Group sponsors Ocean Summit on Marine Debris; CEMA publishes 7th Edition Belt Conveyors for Bulk Materials; Superior Industries acquires Clemro Western Ltd.; Metso launches new global website; Xylem launches new online interactive dewatering platform; Eriez offers 5-Star Service Program; JCB Finance enters partnership with Bank of the West
SUBSCRIBE & FOLLOW
- Lower oil prices send mixed signals to frac sand producers294 Views
- Legislation stopping proposed Waters of the U.S. rule passes Transportation and Infrastructure committee with bipartisan support178 Views
- Bipartisan highway bill would tie federal gas tax to inflation, create transportation commission177 Views
- Lafarge and Holcim announce U.S. asset divestments required by Federal Trade Commission for merger142 Views
- Eagle Scout project rebuilds DeSoto State Park hiking trail from stone found in old quarry at park142 Views