CNH Global Receives Proposal From Fiat Industrial to Enter Into
BURR RIDGE, IL -- (Marketwire) -- 05/30/12 -- CNH Global N.V.
(NYSE: CNH) announced today that its Board of Directors has received
a proposal from Fiat Industrial S.p.A. regarding a combination
transaction between Fiat Industrial S.p.A. and CNH. The proposal was
set forth in a letter sent today by Sergio Marchionne, Chairman of
Fiat Industrial S.p.A., to the Board of Directors of CNH. Fiat
Industrial S.p.A. currently owns approximately 88% of CNH's shares.
The letter is available at:
The Board of Directors of CNH expects to evaluate the proposal
through a committee of independent directors which would retain
independent financial and legal advisors to assist it. The 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 there can be 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 time, no action by the company's shareholders is required.
Further announcements will be made by the company when and as
CNH Global N.V. is a world leader in the agricultural and
construction equipment businesses. Supported by approximately 11,300
dealers in around 170 countries, CNH brings together the knowledge
and heritage of its Case and New Holland brand families with the
strength and resources of its worldwide commercial, industrial,
product support and finance organizations. CNH Global N.V., whose
stock is listed on the New York Stock Exchange (NYSE: CNH), is a
majority-owned subsidiary of Fiat Industrial S.p.A. (MI: FI). More
information about CNH and its Case and New Holland products can be
found online at www.cnh.com.
For more information contact:
CNH Corporate Communications
+1 (630) 887-3823
CNH Investor Relations
+1 (630) 887-3745
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