From Earlier: CNH Global Receives Proposal From Fiat Industrial to Enter Into Combination Transaction

CNH Global N.V. CNH announced today that its Board of Directors has received a proposal from Fiat Industrial S.p.A. regarding a combination transaction between Fiat Industrial S.p.A. and CNH. The proposal was set forth in a letter sent today by Sergio Marchionne, Chairman of Fiat Industrial S.p.A., to the Board of Directors of CNH. Fiat Industrial S.p.A. currently owns approximately 88% of CNH's shares.