In 2015, Terex Corporation Board of Directors announced a unanimous decision to pursue a merger of equals agreement with Konecranes Plc – a Finnish based lifting and materials handling business. The decision was made as part of a wider corporate strategy to further improve Terex Corporation’s product portfolio and overall business scale.
The integration process was suspended earlier this year due to an unsolicited bid by Zoomlion Heavy Industry Science and Technology Co Ltd. This bid was recently increased, with negotiations proceeding to determine whether or not a binding proposal can be obtained. The Terex board has not changed its recommendation in support of the proposed merger with Konecranes.
Terex has since contacted each of its distributor and partners to advise that, whichever transaction occurs in the upcoming months, there will be little to no change for customers, suppliers, staff or distributors. The only changes from either option will be an extended portfolio of products, improved equipment safety, higher levels of product quality and a stronger and larger global team.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/12052016/terex-negotiates-with-konecranes-91/