Richenhagen Not Buying Case New Holland
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Topic: Richenhagen Not Buying Case New Holland
Posted By: AllisChalmers37
Subject: Richenhagen Not Buying Case New Holland
Date Posted: 10 Dec 2010 at 3:03pm
Updated just about an hour ago. Read it for yourself.
Agco CEO Says Not Pursuing Purchase Of Rival http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH GlobalBy Bob Tita, Of DOW JONES NEWSWIRES The chairman and chief executive of Agco Corp. (AGCO) said Friday his farm equipment company isn't pursuing the purchase of competitor http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH Global NV ( http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH , NHL.XE). Martin Richenhagen said his remarks this week to Italian http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201012101441dowjonesdjonline000529&title=agco-ceo-says-not-pursuing-purchase-of-rival-cnh-global# - business publication MF about Agco's interest in http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH were purely hypothetical. He said Georgia-based Agco isn't engaged in talks with http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH nor does he believe the subsidiary of Italian auto maker Fiat SpA (F.MI, FIATY) is on the market. "Whenever I'm asked if I'm interested in buying http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH , the answer is always: 'Yes, but I don't believe they're for sale,'" said Richenhagen in an interview with Dow Jones Newswires. http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH , which also produces http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201012101441dowjonesdjonline000529&title=agco-ceo-says-not-pursuing-purchase-of-rival-cnh-global# - construction machinery , is the world's second-largest manufacturer of farm tractors and combines behind Deere & Co. ( http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=DE&selected=DE - DE ). http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH , which is based in suburban Chicago, builds farm equipment under the brand names Case IH, New Holland and Steyr. Agco is a distant third in the global farm-machinery market, though it is the leading tractor company in Brazil, one of world's largest producers of farm commodities. Agco's brands include Massey Ferguson, Challenger, Fendt and Valtra. Rumors about the sale of http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH or Fiat's http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201012101441dowjonesdjonline000529&title=agco-ceo-says-not-pursuing-purchase-of-rival-cnh-global# - commercial truck unit Ivecco have percolated since Fiat gained a stake in U.S. auto company Chrysler Group LLC in 2009. Some analysts have speculated that Fiat might sell http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH and Ivecco to generate cash for its Chrysler investment. In the aftermath of the MF report about Agco's interest in http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH , Fiat Chief Executive Sergio Marchionne reiterated that http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH isn't for sale. "No, I don't want sell it," Marchionne said this week in an interview with Dow Jones Newswires. "There is no reason to sell it. http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH is a great business." In January, Fiat will split into two separately listed companies, one for its automotive http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201012101441dowjonesdjonline000529&title=agco-ceo-says-not-pursuing-purchase-of-rival-cnh-global# - business and the other comprising http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH and Iveco. Observers have said the reorganization of the company further diminishes the chances that Fiat would sell either http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH or Ivecco. Richenhagen said Agco remains interested in acquisitions, but considers the outlook for deals next year is highly limited. Agco last month agreed to pay $91 million for the 50% stake in combine company Laverda that it didn't already own. The Italian company has been building combines for Agco in Europe since 2004. Agco bought its original 50% stake in Laverda in 2007. Agco last month also said that it acquired a 50% stake seeding and tillage implements sold by Amity Technology LLC. Agco's stock was recently trading down 0.25% at $47.38 a share, while shares in http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=CNH&selected=CNH - CNH were up 1.75% at $45.95. ------------- 1937 WC, 1950 CA, 1959 D14, 1967 190XT, 2006 Ram 3500 |
Replies:
Posted By: Ron Eggen
Date Posted: 10 Dec 2010 at 3:06pm
| Sounds like they are posturing themselves for several years down the road. |
Posted By: Byron WC in SW Wi
Date Posted: 10 Dec 2010 at 3:20pm
| Sounds like Richenhagen bit off more than he can chew. |
Posted By: CTuckerNWIL
Date Posted: 10 Dec 2010 at 4:39pm
|
Sounds to me like the general AGCO screw up. First announce you are interested in buying CNH and then your stock goes down and the company you are interested in buying goes up. Makes perfect sense to me. NOT!!!
------------- http://www.ae-ta.com" rel="nofollow - http://www.ae-ta.com Lena 1935 WC12xxx, Willie 1951 CA6xx Dad bought new, 1954WD45 PS, 1960 D17 NF |
Posted By: redline
Date Posted: 10 Dec 2010 at 4:55pm
|
Sorry that I set off the hypothetical alarm yesterday. Hypothetical speculations must lose some clarity in the translation to english? ------------- If it weren't for the last minute, I wouldn't get anything done! |
Posted By: Daehler
Date Posted: 10 Dec 2010 at 5:35pm
|
Redline its good that you said something about this ordeal. We need dirt so we can get even more people to hate him. It just goes to show how Richenhagen is a moron and needs a Massey tractor shoved up his ass so far that he won't ever be able to get it out. Everyone knows now that all he sees or what he thinks he sees is dollar signs and he doesn't care what happens to anything else. It just goes to show that he is digging himself a hole that he can't get. Maybe someday we can push the dirt in on him with an ALLIS CHALMERS dozer and pack him in with one of those new orange tractors! |
Posted By: Chris/CT
Date Posted: 10 Dec 2010 at 5:44pm
| The man needs lessons in keeping his mouth shut, along with plenty of other values that make a true gentleman. |
Posted By: Nathan (SD)
Date Posted: 10 Dec 2010 at 6:02pm
|
If you think he is bad. Think about the board of directors that let him continue babbling on. |
Posted By: Daehler
Date Posted: 10 Dec 2010 at 6:11pm
| Lets just put em all in the hole and bury them. Put people with some real sense and that are born and raised american in charge of the company. |
Posted By: GBACBFan
Date Posted: 10 Dec 2010 at 7:05pm
------------- "The trouble with quotes on the Internet is that you can never know if they are genuine." - Mark Twain |
Daehler wrote:Posted By: nowversatile
Date Posted: 10 Dec 2010 at 9:48pm
| Also heard that Sergio Marchionne was getting tired of getting bugged by this jerk and finally quit answering his irritating phone calls. Sergio is in the process of cleaning up the mess made by Germans of another American icon: Chrysler Corporation. Looks like in a little over a year, much headway will have been made. This one run into the ground by one Jergen Schrempp - former CEO Mercedes Benz. If ve could only teach them stupid Americans! |
Posted By: nowversatile
Date Posted: 10 Dec 2010 at 9:50pm
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Posted By: GBACBFan
Date Posted: 10 Dec 2010 at 10:23pm
|
Buy AGCO stock and dial in to the earnings calls to hear first hand what the company is reporting to the financial community. They typically field stockholders and analysts questions if/when the answers are available to them. (and yes, the analysts DO ask the tough questions. It can cost them money if they don't) This may not be the best idea for some of our resident AGCO bashers, because civility is a requirement. For folks that are trying to evaluate the company without bias, it could certainly eliminate many of the unsubstantiated rumors we see posted here as fact. ------------- "The trouble with quotes on the Internet is that you can never know if they are genuine." - Mark Twain |
Posted By: nowversatile
Date Posted: 11 Dec 2010 at 7:36am
The November AEM numbers were just released yesterday and industry 100+ row crop tractors in the US were up over 49%. Do you think any analysts will ask the dictator what AGCO's tractor sales were in comparison? Not likely. How about combine sales, Gleaner sales are on fire, a product the dictator wants to eliminate. Will analysts ask about that? No, all they care about is flashy things like Challenger which is what the dictator likes. A good question to ask would be how many Challenger combines have you sold this year? Never will get asked.
Work on getting your language correct, most of us upset with AGCO upper management, consisting of 3-4 incompetent clowns, not the company in general. There are many top notch personnel in AGCO that came through the dark days of Deutz who are from the AC days that see whats going on as we do but can't do or say anything about it.
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Posted By: GBACBFan
Date Posted: 11 Dec 2010 at 7:49am
Really??? You heard??? What is the source of this heresay? I'd be very surprised if you are so connected with top corporate management of two competing companies that you have intimate, accurate, knowledge of the tenor of communication between their respective CEO's. ------------- "The trouble with quotes on the Internet is that you can never know if they are genuine." - Mark Twain |
Posted By: nowversatile
Date Posted: 11 Dec 2010 at 8:00am
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Posted By: GBACBFan
Date Posted: 11 Dec 2010 at 8:08am
|
So you didn't hear it, it's an assumption???
I don't care one way or the other about the guy, I don't know enough about him. I DO struggle with folks that use rumor, supposition, heresay, and bullsh*t interspersed with facts simply to forward their particular bias. ------------- "The trouble with quotes on the Internet is that you can never know if they are genuine." - Mark Twain |
Posted By: redline
Date Posted: 11 Dec 2010 at 10:14am
------------- If it weren't for the last minute, I wouldn't get anything done! |
Posted By: Brian Jasper co. Ia
Date Posted: 11 Dec 2010 at 7:23pm
|
I'm guessing all the Case IH and New Holland folks are breathing a little easier now... ------------- "Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian." Henry Ford |
Posted By: Spud
Date Posted: 13 Dec 2010 at 6:39pm
| RedLine. I think Chrysler was run into the ground just fine before Daimler got a hold of them. That is why they were for sale in the first place. |