Fiat Industrial Merger - Tokushima Worldwide.

Tokushima Worldwide reportedly announced in a recent meeting that a spokesperson for Fiat Industrial SpA confirmed that its improved offer to buy out minority shareholders of CNH Global had met with approval from a committee of directors of the US firm. They stated that the merger agreement could be finalized in the near future.

Analysts say the new structure will make it easier for Fiat Industrial to deploy an estimated $5 billion in cash attributed to CNH. Fiat Industrial will now directly control that money, as well as CNH's other assets. As part of the merger, the CNH board would be dissolved and the new company will be directed by a single board and a consolidated management team.

The two groups will be merged into an as yet unnamed new company in which investors will receive 3.828 shares per CNH share, and one share per Fiat Industrial share. The company will have a secondary listing in Milan.

Sergio Marchionne, chairman of Fiat Industrial, said shareholders approved the deal at a special shareholders meeting in Amsterdam. Marchione said that he expects the European car market in 2013 to perform "at the same level as 2012, probably slightly better, but I am probably the only optimist in this business right now."

"In the U.S. and Latin America, the market will do well," he added. emarketing