Eaton Okayed To Buy Cooper, Fiat Okayed To Buy CNH: Merger and Acquisitions Recap

The European Commission has ruled that the American industrial manufacturer Eaton Corporation’s (NYSE:ETN) proposed $11.8 billion acquisition of the electrical equipment producer Cooper Industries (NYSE:CBE) should not harm competition on the Continent. The purchase marks Eaton’s largest ever such move and is expected to broaden its range of electrical products, like lighting and wiring devices, into markets such as mining, gas and utilities, and oil, and will also reinforce its footprint in emerging markets.

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Italy’s Fiat Industrial’s (FNDSF.PK) improved $1.5 billion offer has the okay of its United States tractor and construction machinery division, CNH Global (NYSE:CNH), towards a transaction that will form the third-largest capital goods group in the world by sales. Fiat’s new bid was increased by around $300 million in a cash dividend to the prior bid that was all in shares and will permit the company to purchase the 12 percent of CNH it doesn’t already hold. The company hopes that a combined entity will draw a higher valuation from investors, who up until now have appraised CNH over Fiat.

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