MILAN (AP) — The Italian heavy-duty vehicles maker Fiat Industrial reached an agreement Monday for a full merger with its U.S. subsidiary, the farm equipment maker CNH Global N.V., creating the world’s third-largest capital goods company by sales.

Fiat Industrial had aggressively pursued the full merger of the 12 percent of CNH that it didn’t already own, making a pitch in the spring and then raising the value of the offer by more than 25 percent last week after CNH advisers refused to endorse the deal.

Recommended Stories

Obama and Slotkin’s selective defense of American ideals

The military’s $1 billion drone plan to take on China — and how it hopes it never has to use them

Israeli conservative parties lose last-ditch bid to extend voting as election sees record turnout