Equipment Type

Terex Looking to Buy Companies

Ron DeFeo says he is willing to use most of the $1.35 billion in cash on his company's books to pay for the right acquisition in the heavy equipment business.

October 27, 2010

The top executive of Terex Corp. said on Thursday he is willing to use most of the $1.35 billion in cash on his company's books to pay for the right acquisition in the heavy equipment business.

"It all depends on the candidate," Ron DeFeo, the company's chairman and chief executive, said in an interview with Reuters. "We could use most of it.

We have said, and I'll restate it, that we have been targeting $500 million to $1 billion size deals. But you can't always fit everything nicely into what you're targeting."

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--Reuters

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