RTTNews | Jun 21, 2021 02:02AM EDT

02:02 Monday, June 21, 2021 (RTTNews.com) - CNH Industrial N.V. (CNHI) said that it agreed to acquire Raven Industries Inc. (RAVN), a US-based leader in precision agriculture technology for US$58 per share.

The deal represents 33.6% premium to the Raven Industries 4-week volume-weighted average stock price, and US$2.1 billion Enterprise Value.

Closing is expected to occur in the fourth quarter of 2021.

CNH Industrial does not expect the proposed acquisition will have any impact on its guidance for 2021. The acquisition is expected to be funded with Group consolidated cash1 not affecting third party debt of industrial activities.

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