Terex/Zoomlion merger could be announced in a week or two; Konecranes reiterates still in talks with Terex
The sale of the Connecticut-based industrial equipment supplier Terex [NYSE:TEX] to China-based Zoomlion [SHE:000157] could take place in the next week or two, according to Kauppalehti Online.
The Finnish-language piece cited an unnamed US fund manager who said if Zoomlion manages to secure the cash required, it is likely Terex shareholders would accept the offer. The item said the silence around the companies means a solution is coming in soon. Zoomlion has yet to submit a binding offer for Terex, the item said.
Meanwhile, Konecranes [HEL:KCR1V], the Finland-based rival bidder for Terex, repeated its stance on the merger by saying that it is still in talks with Terex. Large US funds that own Terex shares are not supporting the merger with Konecranes because Zoomlion’s per share offer for Terex is viewed as high in the current market, the item added.
Kauppalehti Online