Georgia based farm equipment manufacturer Agco has recently shown interest in acquiring Fiat’s CNH Global farm and construction machinery division.
Chair and chief executive officer of Agco, Martin Richenhagen, said this week that he had met with Fiat’s chief executive officer Sergio Marchionne in November to discuss the idea.
Marchionne rejected the concept of selling the $10.7 billion US Case New Holland division to the smaller Agco, which is valued at $4.5 billion US.
Despite Fiat’s decline to enter talks, Richenhagen said Agco continues to examine antitrust and financing issues that would be necessary to pursue a merger.
