I have trouble picturing Giovanni Agnelli's chosen heir, John Elkann, in farmer jeans:
Except for consummating the deal with cash on hand. That sounds like a prudent farmer (or the Agnelli clan.)
From Zacks via Nasdaq, June 21:
CNH Industrial (CNHI) to Acquire Raven in Deal Worth $2.1B
CNH Industrial CNHI recently announced the decision to acquire 100% capital stock of Raven Industries, Inc. RAVN — a U.S.-based agriculture technology company.
In a $2.1-billion deal, CNH Industrial will pay $58 per share to Raven, accounting for a 33.6% premium to Raven's four-week volume-weighted average stock price.
The Raven buyout, which is one of the largest acquisition deals for CNH Industrial since it was formed in 2013, requires approval from Raven shareholders. The transaction, expected to conclude in the fourth quarter of 2021, will be funded by CNH industrial through available cash on hand. Moreover, CNH Industrial does not expect the proposed acquisition to impact its financial guidance for this year.
Headquartered in Sioux Falls, South Dakota, Raven Industries is a leader in precision agriculture, high performance specialty films, and aerospace and defense solutions. The company is divided into three business segments — Applied Technology (precision agriculture), Engineered Films (high performance specialty films) and Aerostar (aerospace). Raven is committed to providing state-of-the-art, high-value products and solutions worldwide through a network of key strategic OEMs, agriculture retailers and dealers.
Based in the U.K., CNH Industrial, which is controlled by Italy's Agnelli family through its holding company Exor, is a global leader in the capital goods sector and manufacturer of agricultural equipment. Its products range from tractors to trucks and buses, along with powertrain solutions for off- and on-road, and marine vehicles.Advantages of the Takeover
Precision agriculture and autonomy are crucial elements of CNH Industrial’s strategy in helping its agricultural customers realize the true capabilities of their operations. The buyout will give CNH Industrial access to Raven’s cutting-edge technology in the agriculture industry, thus bolstering the position of the former in the global agriculture equipment business....
....MUCH MORE