Deals
Elliott Said to Buy Stake in Agnellis’ CNH Amid Spinoff Plan
- U.S. activist investor sees value in company breakup strategy
- CNH seeks to take page from Marchionne playbook with spinoff
Paul Singer listens during the Bloomberg Invest Summit in New York.
Photographer: Misha Friedman/BloombergThis article is for subscribers only.
Elliott Management Corp. has built a stake in CNH Industrial NV in a bid for constructive engagement with the truck and tractor maker controlled by Italy’s Agnelli family, according to people familiar with the matter.
Elliott, run by billionaire Paul Singer, sees value-creation potential in CNH’s plan to separate the Iveco truck business from its more profitable agricultural machine unit, the people said.