A PYMNTS Company

US/Italy: Industrial merger shakes up capital goods, farming machinery markets

By  |  July 23, 2013

Shareholders Tuesday approved of a proposed merger between US-based agricultural machinery manufacturer CNH Global with Italy-based manufacturer Fiat Industrial in a deal making the combined business the third-largest capital goods maker and the second-largest farming machinery market in the world, according to a press release. Shareholders cleared the way for CNH to combine with FI CBM Holdings, a vehicle created by Fiat to facilitate the transaction. Fiat shareholders approved of the merger earlier this month. The new company will be dubbed CNH Industrial and focus on engines, trucks and agricultural machinery. Fiscal operations will be based in the UK and the company will be incorporated in the Netherlands, said the press release.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Nasdaq

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.