Case Corporation Shareholders Approve Merger With New Holland.RACINE, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--Aug. 17, 1999-- Shareholders of Case Corporation (NYSE NYSE See: New York Stock Exchange :CSE (Certified Systems Engineer) See Microsoft certification. ) approved the company's proposed merger with New Holland N.V. (NYSE:NH) at a special shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. held today in Racine, Wisconsin Racine is a city in Racine County, Wisconsin, United States, located beside Lake Michigan at the mouth of the Root River.[2] As of the 2006 census, the city had a total population of 79,592.[3] It is the county seat of Racine County. . Approximately 99 percent of shareholders present and voting approved the merger. The number of shares voting for the merger represents approximately 71 percent of the total number of shares outstanding and entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to vote. The proposed merger between Case and New Holland was announced on May 17, 1999, and is expected to close in the fourth quarter of this year pending regulatory approval. Under the terms of the merger agreement, Case shareholders will receive $55 per share in cash. "Together, Case and New Holland will create a $12 billion company that will reach more farm and construction equipment customers that any other company in the world," Jean-Pierre Rosso, Case chairman and chief executive officer, told shareholders. "The merged company will have the size and scope to benefit customers, employees, shareholders and other partners in ways that would be beyond the reach of either company alone." Rosso will serve as chairman and chief executive officer of the merged company. Case's and New Holland's product line strength, geographic sales distribution and business mix are highly complementary. The brands of both companies and the respective distribution networks will be maintained following the merger. Case Corporation is a leading worldwide designer, manufacturer and distributor of agricultural and construction equipment, and offers a broad array of financial products and services. Headquartered in Racine, Wisconsin, Case had 1998 revenues of $6.1 billion and sells its products in 150 countries through a network of approximately 4,900 independent dealers. |
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