Konecranes still has plenty of options for Terex; company could be split between Konecranes and Zoomlion
Konecranes, the Finnish crane equipment group, may get another chance with the Connecticut-based crane specialist Terex, according to Kauppalehti.
The Finnish-language paper wrote an unsourced analysis in which it said that Konecranes still has plenty of options when it comes to Terex. American fund managers, who own huge stakes in Terex, are still keen on merging with Konecranes, the item said. Terex could also be split between Konecranes and the Chinese Zoomlion, the item noted, citing an unnamed fund manager.
If the company was to split, Konecranes could take the harbour cranes and industrial cranes business and Zoomlion would have the heavy machinery business, such as crushers.
It is clear that the board of Terex will accept the better offer but Konecranes has plenty of alternatives if it is willing to move fast.
The funds want to hurry the sale of Terex in order to reap the profits but the Chinese are yet to leave a binding offer for Terex.
It remains to be seen when Zoomlion will make its binding offer.
Kauppalehti