Konecranes offer for Terex MHPS seen as high; Zoomlion unlikely to be able to outbid
The Finnish crane equipment supplier Konecranes’ [HEL:KCR1V] price for the Connecticut-based Terex’s [NYSE:TEX] material handling and port business (MHPS) is seen as high and the Chinese Zoomlion [SHE:000157] is unlikely to outbid, according to Kauppalehti Online.
Juha Kinnunen, an analyst from Inderes, noted it is likely Konecranes would succeed in acquiring Terex’s MHPS business for EUR 1.1bn given the offer price is quite high, the Finnish language article noted.
He said it is unlikely Zoomlion, which has also been reported to have made a bid for all of Terex, would be able to make a higher offer. He added part of the deal means operating in the ports of US that can be strategically sensitive.
A logical outcome would be that Konecranes acquires the MHPS and Zoomlion the construction machinery business. This way each business gets what they require from Terex, he noted, the report said.
Kauppalehti Online