Fiat Merger Proposal Nixed By Equipment Unit CNH

Law360, New York (October 15, 2012, 1:58 PM EDT) -- Agriculture and construction equipment company CNH Global NV on Monday rejected the proposed terms of a merger with its majority shareholder, Italy's Fiat Industrial SpA, saying the deal would not be in the best interest of its shareholders.

Fiat, which was spun out from the automaker that shares its name two years ago, owns an 88 percent stake in Illinois-based CNH. The Italian company had said it was seeking to fold CNH into itself so it could better compete with North America-based global rivals including Deere...
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