CNH Won't Make Fresh Bid For Kverneland - Chairman

Date : 01/09/2012 @ 11:07AM
Source : Dow Jones News
Stock : Cnh Global N.V. (CNH)
Quote : 49.96  0.0 (0.00%) @ 2:05AM

CNH Won't Make Fresh Bid For Kverneland - Chairman

Cnh Global (NYSE:CNH)
Historical Stock Chart

5 Years : From Oct 2012 to Oct 2017

Click Here for more Cnh Global Charts.

CNH Global NV's (CNH) chairman Monday said the U.S. tractor and combine maker won't make a new bid for Norway's Kverneland ASA (KVE.OS) after Japan's Kubota Corp. (KUB, 6326.TO) offered more money for it.

"Those discussions are pretty much done," Sergio Marchionne said on the sidelines of the North American International Auto Show.

Kverneland, a maker of agricultural machinery, had looked set to become the target of a bidding war late last year when Kobuta offered NOK10.50 a share for it, challenging CNH's NOK9.5 bid.

Kverneland's board recommended that shareholders accept Kubota's offer, which was launched on Jan. 6 and runs until Jan. 20.

Kubota's offer has been accepted by Kverneland's controlling shareholder, Umoe AS, giving the Japanese company a 31.8% stake.

Based in the U.S., CNH's parent is Fiat Industrial SpA (FI.MI) of Italy.

-By Jeff Bennett and Gilles Castonguay, Dow Jones Newswires; +39 02 5821-9908;

Latest CNH Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.