Fiat's Sweetened $1.5B Bid Wins Over Equipment Unit

Law360, New York (November 26, 2012, 2:29 PM EST) -- Construction equipment maker CNH Global NV has accepted a roughly $1.5 billion takeover offer from majority shareholder Fiat Industrial SpA, sweetened last week in a do-or-die proposal from the Italian suitor, the companies said Monday.

Through the deal, Fiat, which was spun out from the automaker that shares its name two years ago, will claim the remaining 12 percent of CNH that it doesn't already own. Together, the companies will form the world's third-largest capital goods outfit, allowing them to better compete with larger North America-based...
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