Special Committee of CNH Global Confirms Receipt of Revised
Proposal from Fiat Industrial
NEW YORK, Nov. 19, 2012 /PRNewswire/ -- The Special
Committee of the Board of Directors of CNH Global N.V. (NYSE: CNH)
("CNH") today confirmed that it has received a revised proposal
from Fiat Industrial S.p.A. ("FI") regarding a potential strategic
combination between FI and CNH. The Special Committee will
review the proposal in consultation with its financial and legal
advisors.
The Special Committee advises the company's shareholders and
others considering trading in its securities that the Special
Committee is evaluating the proposal and there can be no assurance
that the proposal will lead to any definitive offer, that any
agreement will be reached or that any transaction will be
consummated.
At this time, no action by the company's shareholders is
required. Further announcements will be made by the Special
Committee when and as appropriate.
The Special Committee has engaged Cravath, Swaine & Moore
LLP, De Brauw Blackstone Westbroek N.V. and Bonelli Erede
Pappalardo, as its legal advisors, and J.P. Morgan and Lazard, as
its financial advisors, to assist it in its work.
FORWARD-LOOKING STATEMENTS
This communication contains forward-looking statements
relating to CNH and the proposed business combination with
FI. All statements included in this communication concerning
activities, events or developments that we expect, believe or
anticipate will or may occur in the future are forward-looking
statements. Forward-looking statements are based on current
expectations and projections about future events and involve known
and unknown risks, uncertainties and other factors, including, but
not limited to, the following: uncertainties as to whether the
proposed business combination will be consummated, uncertainties as
to the timing of the proposed business combination, uncertainties
as to how many of CNH's shareholders will participate in the
proposed business combination, the risk that the announcement of
the proposed business combination may make it more difficult for
CNH to establish or maintain relationships with its employees,
suppliers and other business partners, the risk that CNH's business
will be adversely impacted during the pendency of the proposed
business combination; the risk that the operations of CNH and FI
will not be integrated successfully, the risk that the expected
cost savings and other synergies from the proposed business
combination may not be fully realized, realized at all or take
longer to realize than anticipated, and other economic, business
and competitive factors affecting the businesses of CNH generally,
including those set forth in its annual report on Form 20-F for the
year ended December 31, 2011 filed by
CNH with the SEC on February 29,
2012. These forward-looking statements speak only as of the
date of this communication and we undertake no obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events and developments or otherwise, except as
required by law.
Burson-Marsteller
Jason Schechter / Jennifer Friedman
212-614-5257
SOURCE CNH Global N.V.