NEW YORK, Oct. 15, 2012 /PRNewswire/ -- The Special Committee of the Board of Directors of CNH Global N.V. (NYSE: CNH) ("CNH"), in consultation with our financial and legal advisors, has carefully evaluated Fiat Industrial S.p.A.'s ("FI") proposal of May 30, 2012 (the "Proposal") regarding a potential strategic combination between FI and CNH. Based on the information made available to us, as well as the opinions of our financial advisors, J.P. Morgan Securities LLC and Lazard, we have unanimously concluded that the Proposal is inadequate and would not be in the best interests of CNH and its shareholders. The Proposal requires the recommendation of the Special Committee, and the Special Committee has unanimously determined not to recommend the Proposal. The Special Committee remains available to evaluate any alternatives to the Proposal should FI elect to advance any such alternatives. FORWARD-LOOKING STATEMENTSThis communication contains forward-looking statements relating to CNH and the proposed business combination with FI. All statements included in this communication concerning activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, the following: uncertainties as to whether the proposed business combination will be consummated, uncertainties as to the timing of the proposed business combination, uncertainties as to how many of CNH's shareholders will participate in the proposed business combination, the risk that the announcement of the proposed business combination may make it more difficult for CNH to establish or maintain relationships with its employees, suppliers and other business partners, the risk that CNH's business will be adversely impacted during the pendency of the proposed business combination; the risk that the operations of CNH and FI will not be integrated successfully, the risk that the expected cost savings and other synergies from the proposed business combination may not be fully realized, realized at all or take longer to realize than anticipated, and other economic, business and competitive factors affecting the businesses of CNH generally, including those set forth in its annual report on Form 20-F for the year ended December 31, 2011 filed by CNH with the SEC on February 29, 2012. These forward-looking statements speak only as of the date of this communication and we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law.For more information contact: Burson-Marsteller Jason Schechter / Jennifer Friedman212-614-5257 SOURCE CNH Global N.V.