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RSSAGCO CEO Says a Merger Isn’t Out of the Question
AGCO’s Chief Executive Officer Martin Richenhagen is stirring the news pot again. He reportedly told a German publication recently that he doesn’t rule out a takeover by another company or a merger with a peer.
According to a Bloomberg report earlier today, the Frankfurter Allgemeine Zeitung says that the U.S. maker of farm equipment, forecasts that sales will rise to $10 billion this year, from $9 billion in 2011. It goes on to say that there may be logic in a merger with Caterpillar Inc. because AGCO uses many products from that company, FAZ cited Richenhagen as saying.
Story Link: http://www.bloomberg.com/news/2012-01-05/agco-chief-forecasts-sales-of-10-billion-this-year-faz-reports.html
Posted January 5, 2012
COMMENTS: 6
Posted from: Scot, 1/22/12 at 7:27 PM CST
Has e started any contact with Doug Oberhelman as this is being written?
Caterpillar & Agco
Posted from: Santos, 1/21/12 at 12:23 PM CST
I can't believe that Cat could be back to agriculture machinery market. In my opinion Cat will not fight against Deere. Deere is increasing too much around the world and regarding agriculture Deere has a long history and culture.
Cat & Agco
Posted from: Scot, 1/7/12 at 10:40 PM CST
Ironically that is where Caterpillar started out thru its founders Daniel Best,Ben Holt is agriculture.
Agco
Posted from: Randy, 1/7/12 at 11:54 AM CST
Mr Richenhagen needs to think about dealer and customer confidence before making such statements. Cat got out of the Ag business and sold the Lexion combine to Claas and the Challenger tractor to Agco because they weren't successful in the Ag market. The only thing the Challenger line did for Agco was allow them to put a Challenger Dealer on top of a Massey dealer in the same locality. By having the exact same equipment painted different colors at different dealerships it only creates inline competition. Sad to say, but Agco has the reputation of not respecting their dealers which effects customer confidence and loyalty. In the past Mr. Richenhagen has said he was going to buy CNH. All of his big talk is based on the strong Ag market right now.just wait it will change too. I would like to hear Mr. Richenhagen explain how terminating dealers has helped Agco's loyalty to their customers. Cat owns Perkins and is the biggest tie to Agco while Agco owns Sisu which is every bit as good as Perkins only Agco didn't know it when they bought Valtra.
Agco/Cat
Posted from: John Shipp, 1/6/12 at 8:48 AM CST
Cat tried the ag business.Didn"t like it much.Cat does not want to be in a business they can't dominate. Like being #1 or #2 in that market...
Caterpillar & Agco
Posted from: Scot, 1/6/12 at 7:31 AM CST
It has been on our mind that Caterpillar could buy Agco and not just merge with them.After all Cat sold agco its Challenger line in 2001.Cat just paid 8.6 billion for Bucyrus and its mining equipment and close to a billion for Electric Motive Diesel that makes locomotives
