EU set to OK 2.6bn New Holland deal

28 October 1999



EU set to OK £2.6bn New Holland deal

THE European Commission (EC) was expected today to give a conditional go-ahead to the $4.4bn (£2.6bn) takeover by New Holland of Case.

The deal is subject to an agreement to sell some UK-based interests. New Holland has a large tractor plant in south-east England at Basildon. Case has operations in Doncaster.

The groups combine harvesters could be another source of concern for the EC.

The deal still requires approval from US antitrust authorities.

• NH seeks loan to fund Case buy-out, FWi, 16 September 1999, 1999
• New Holland income falls 40%, FWi, 28 July 1999
• New Holland on the Case, FWi, 1 June 1999
  
• Financial Times 28/10/99 page 27