UPDATE 2-Fiat Industrial wins over CNH board with improved bid

Posted on November 22, 2012 at 07:43 AM EST

MILAN, Nov 22 (Reuters) - Italy's Fiat Industrial has won over the board of its U.S. tractor and construction machinery unit CNH with an improved $1.5 billion bid that will create the world's third-largest capital goods group by sales.

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