Fiat Industrial has not yet received response from CNH Global over merger proposal submitted on May 30, Fiat says in statement
October 5, 2012
– With reference to reports in the press, Fiat Industrial has not yet received a response from the Special Committee of the Board of Directors of CNH Global N.V. to the proposal it has
submitted on May 30.
As is normal practice in these circumstances, the CNH Special Committee, which was constituted for the sole purpose of evaluating the proposal, is engaged in an extensive due
diligence process, including presentations by FI management of the business plans of Iveco and FPT Industrial. These presentations were just completed.
Fiat Industrial expects to provide an update on the merger process in connection with the announcement of the Group’s third quarter results later this month.
Fiat Industrial S.p.A. is a global leader in the capital goods sector that, through its various businesses, designs, produces and sells agricultural and construction equipment (CNH Global N.V.), trucks, commercial vehicles, buses and special vehicles (Iveco S.p.A.), in addition to engines and transmissions for those vehicles and for marine applications (FPT Industrial S.p.A.). Present in all major markets worldwide, Fiat Industrial is focused on expanding its presence in high growth markets, including through new joint ventures. Further information on Fiat Industrial Group and its businesses is available on the corporate website www.fiatindustrial.com