Terex asks Zoomlion to increase its offer
By Andrew Macklin
February 29, 2016 – Terex is asking Zoomlion to increase its bid for the company in order to justify breaking of its proposed merger with Konecranes.
According to an exclusive report from Reuters, Terex Corp wants an increase to the $3.3 billion offer made by Zoomlion, who is pushing to acquire the construction equipment manufacturer in an effort to expand its global footprint.
The article states that part of the reason for the requested offer increase is the direct synergies that the Konecranes merger provides. Terex has not officially communicated the amount it expects the offer to be increased to in order to suspend the pending merger.
For more on this story, click here.