CASE IH parent company CNH Global has pulled out of bidding for Norwegian agricultural equipment manufacturer Kverneland.
The decision leaves Japanese tractor company Kubota to seal the deal.
Kverneland builds a range of discs, harrows, cultivators and ploughs and is distributed in Australia by PFG Kubota, which stumped up more cash than the US giant could offer.
Chinese farm and construction equipment manufacturer Chery Heavy Industries also pulled out, leaving Kubota to take a 31.8 per cent stake in the 100-year-old manufacturer.
Kubota has also made formal offers to other shareholders who collectively control 48 per cent of Kverneland.
Kubota is looking to become a genuine global company, according to its website.
Kverneland's wide range of tillage and hay equipment developed for the European market is widely favoured in North America.
The company has 19 sales companies worldwide and distributes through independents in another 60.
An Ag Equipment Intelligence report says the future of Kverneland's agreements with CNH to supply US New Holland dealers with hay equipment or with AGCO in Europe to supply Massey Ferguson round balers is uncertain.
