Under the terms of the proposed deal, CNH shareholders will receive 3.828 shares in a new company to be incorporated in the Netherlands in exchange for each share of CNH they now hold. In addition, CNH shareholders will get a $10 per share cash dividend by the end of this year, “if practicable.” Fiat will defer its special dividend.
The special committee stressed that “no contract, agreement, or obligation” regarding the transaction will arise “until definitive documentation is negotiated and executed by the appropriate parties.” CNH shareholders need take no action at this time; the special committee will notify them if and when action is needed.
CNH shares are trading up more than 3% this morning, at $49.23, after posting a new 52-week high of $49.45 earlier. The prior range was $34.36 to $47.88.
Paul Ausick
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.