CNH Rejects Fiat Offer

October 16, 2012

CNH rejected Fiat Industrial's proposed merger, after a Special Committee of the Board of Directors unanimously concluded the proposal was inadequate.

CNH said the committee had conferred with its financial and legal advisors in coming to the conclusion to reject the Fiat offer.

Fiat Industrial owns about 88 percent of CNH's shares and had suggested the merger on May 30.