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Fiat Industrial ups CNH offer by 25.6 percent
MILAN Nov 19 (Reuters) - Italian tractor and truck maker Fiat Industrial said on Monday it upped the value of its offer for the 12 percent of CNH Global it does not already own by 25.6 percent.
Fiat Industrial, a sister company to Italy's Fiat, said in a statement it made a "best and final offer" to CNH Global shareholders that envisages a $10 per share dividend payout for CNH Global shareholders before the merger.
Fiat Industrial set a Nov. 21 deadline for a reply from CNH Global shareholders before withholding the offer, and a Nov. 25 deadline for the definitive merger agreement.
If the offer is not accepted, Fiat Industrial will proceed with its plan to merge the two companies into a newly created vehicle listed in New York and Milan.
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