Fiat Industrial fully acquires CNH

The merger between Fiat Industrial and equipment manufacturer CNH has been approved by shareholders – a deal that will result in a new company called CNH Industrial.

Fiat Industrial already owned 87% of CNH, which owns the New Holland and Case construction equipment brands. The remaining CNH shareholders will receive 3.828 common shares of the new company for each CNH share they hold at the time of the merger.

The merger, which was recommended to by CNH to its shareholders in November last year, is expected to close in the third quarter.