Kubota ups its offer for Kverneland and trumps rivals

The battle to acquire Kverneland rages on. Earlier this morning Kubota, which made the initial bid for the Norwegian implement maker, upped its offer from 8.50 Norwegian Krone (NOK) – equivalent to 92p – per share to 10.50NOK (£1.14) per share.

That neatly trumps the 9.50 NOK (£1.03) bid from Case New Holland and rival 9.50 NOK from a new bidder, Chery Heavy Industries. Chery is a huge Chinese industrial conglomerate that makes construction, marine and agricultural equipment. Its farm machinery range includes rice harvesters, combines, maize equipment and tractors up to 150hp.

To see our earlier story on the battle to buy Kverneland, see our previous articles.

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