Special Committee of CNH Global Confirms Receipt of Revised Proposal from Fiat Industrial

NEW YORK, Nov. 19, 2012 /PRNewswire/ -- The Special Committee of the Board of Directors of CNH Global N.V. (NYSE: CNH) ("CNH") today confirmed that it has received a revised proposal from Fiat Industrial S.p.A. ("FI") regarding a potential strategic combination between FI and CNH.  The Special Committee will review the proposal in consultation with its financial and legal advisors. 

The Special Committee advises the company's shareholders and others considering trading in its securities that the Special Committee is evaluating the proposal and there can be no assurance that the proposal will lead to any definitive offer, that any agreement will be reached or that any transaction will be consummated. 

At this time, no action by the company's shareholders is required.  Further announcements will be made by the Special Committee when and as appropriate.

The Special Committee has engaged Cravath, Swaine & Moore LLP, De Brauw Blackstone Westbroek N.V. and Bonelli Erede Pappalardo, as its legal advisors, and J.P. Morgan and Lazard, as its financial advisors, to assist it in its work.

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements relating to CNH and the proposed business combination with FI.  All statements included in this communication concerning activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements.  Forward-looking statements are based on current expectations and projections about future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, the following: uncertainties as to whether the proposed business combination will be consummated, uncertainties as to the timing of the proposed business combination, uncertainties as to how many of CNH's shareholders will participate in the proposed business combination, the risk that the announcement of the proposed business combination may make it more difficult for CNH to establish or maintain relationships with its employees, suppliers and other business partners, the risk that CNH's business will be adversely impacted during the pendency of the proposed business combination; the risk that the operations of CNH and FI will not be integrated successfully, the risk that the expected cost savings and other synergies from the proposed business combination may not be fully realized, realized at all or take longer to realize than anticipated, and other economic, business and competitive factors affecting the businesses of CNH generally, including those set forth in its annual report on Form 20-F for the year ended December 31, 2011 filed by CNH with the SEC on February 29, 2012. These forward-looking statements speak only as of the date of this communication and we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law.

Burson-Marsteller
Jason Schechter / Jennifer Friedman
+1-212-614-5257