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The Gap Partnership

Fiat closes in on CNH takeover

Fiat is on the brink of taking complete control of CNH Global after making an enhanced share offer.

23 November 2012

Posted by Edel Quinn

Fiat is close to completing a takeover of agriculture and construction vehicle maker CNH Global.

The Italian firm already has an 88 per cent stake in CNH, but its bid for complete ownership has been a protracted one, with past bids proving unacceptable to CNH.

However, acceptable terms have now been agreed, with a 26 per cent increase in the offer price for the remaining shares being enough to clinch the deal, valuing the remaining CNH stock at $1.37 billion (£860 million).

Under the terms of the deal, CNH shareholders will also receive a special dividend worth $10 per share.

Those involved in complex or deadlocked negotiations of this kind may find the services of merger and acquisition consultants invaluable in helping to devise a successful strategy.

Other recent complete buy-outs by motor manufacturers include last month's agreement that will see Toyota Corporation take 100 per cent ownership of the Cascade Corporation.

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