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National & World Ag News Headlines |
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CNH Industrial to Acquire Raven Industries for $2.1 Billion
USAgNet - 06/22/2021
CNH Industrial N.V. announced it has entered into an agreement to acquire 100% of the capital stock of Raven Industries, Inc., a US-based leader in precision agriculture technology for $58 per share.
The transaction will be funded with available cash on hand of CNH Industrial. Closing is expected to occur in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions, including approval of Raven shareholders and receipt of
regulatory approvals.
The acquisition builds upon a long partnership between the two companies and will further enhance CNH Industrial's position in the global agriculture equipment market by adding strong innovation capabilities in autonomous and precision agriculture technology.
Raven is a leader in precision agriculture, high-performance specialty films, and aerospace and defense solutions, and the company's groundbreaking work in autonomous systems is unlocking new possibilities in areas like farming, national defense, and scientific
research.
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