Konecranes/Terex MHPS deal could collapse as Zoomlion likely to make improved offer for all of Terex
The Finnish crane maker Konecranes’ [HEL:KCR1V] attempt to buy the Connecticut-based Terex’s [NYSE:TEX] material handling and port business (MHPS) could collapse as it is likely the Chinese Zoomlion [SHE:000157] will make an improved offer for all of Terex, Helsingin Sanomat reported.
The Finnish language piece cited Elina Riutta, an Evli Bank analyst, who noted the EUR 1.1bn offer could still collapse because Zoomlion has a right to raise its offer for Terex till end of May.
Riutta said she believes Zoomlion will make another, successful offer for all of Terex which means Konecranes’ and Terex’s arrangements would collapse.
Helsingin Sanomat