Report: Terex To Zoomlion – Need More?
24 February 2016
Reuters is reporting that Terex Corp has told China’s Zoomlion increase its $3.3 billion offer in order for it to abandon its merger agreement with Finland’s Konecranes. Terex apparently has told Zoomlion that the synergies with Konecranes in the material handling and port systems businesses of the two companies mean that Terex is worth more than the $30 per share that Zoomlion has offered.
Terex has apparently not communicated to Zoomlion the exact price it would need to justify breaking up its merger agreement with Konecranes, though discussions are continuing.
Terex and Zoomlion declined to comment, while a Konecranes representative did not immediately respond to a request for comment, Reuters said.
http://www.reuters.com/article/us-terex-m-a-zoomlion-idUSKCN0VX2NP
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