Terex/Konecranes deal looks unlikely, analysts say - Kauppalehti Online, Taloussanomat
The Finnish Konecranes’ ability to acquire the Connecticut–based Terex is greatly reduced after Zoomlion raised its offer, according to Kauppalehti Online. The Finnish-language piece cited an analyst from Inderes, Juha Kinnunen, who said that the merger is looking even less likely now after Terex announced Zoomlion had raised its non-binding offer to USD 31 per share.
The fusion with Terex would be beneficial for Konecranes, he said, but it is likely that shareholders will take Zoomlion’s cash offer. He said that the Zoomlion deal may still fall because of American competition officials despite the fact that Terex shareholders may approve of the deal.
He said that Terex may not have a genuine interest to merge with Konecranes, but its board officially supports Konecranes’ offer due to the contract’s legal reasons.
Meanwhile, Taloussanomat also reported, citing various analysts that the merger seems very unlikely now.
Kauppalehti Online, Taloussanomat