Terex to Move Forward on Acquisition Negotiations With Zoomlion Heavy Industry Science & Technology
[Click image to enlarge]
[Click image to enlarge]
Terex Corporation has received a revised non-binding proposal from Zoomlion Heavy Industry Science and Technology Co. to acquire all of the outstanding shares of Terex for $31.00 per share in cash. The proposal is conditioned on, among other things, receipt of U.S. and Chinese regulatory approval and Zoomlion shareholder approval. Terex will move forward to pursue negotiations of definitive terms with Zoomlion to ascertain whether it can obtain a binding proposal from Zoomlion which provides for a high degree of closing certainty.
Until such time as Terex’ existing agreement with Konecranes is terminated, Terex is prohibited from entering into an agreement with Zoomlion. Without agreement from Konecranes, Terex may not terminate its existing agreement unless and until Terex shareholders vote upon, and fail to approve, the Konecranes transaction, or Terex is otherwise entitled to terminate under its agreement with Konecranes.
About Terex
Terex Corporation is a lifting and material handling solutions company reporting in five business segments: aerial work platforms, construction, cranes, material handling & port solutions and mterials processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.
To stop by Terex’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2016 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
