Zoomlion Ups Ante For Terex

March 16, 2016

According to Reuters, China's heavy equipment manufacturer Zoomlion has increased its bid for Terex Corporation.

Zoomlion's earlier bid of $30 per share cash hasn't been enough to claim Terex, who has a merger ageement in place with Konecranes. Zoomlion has proposed adding a special dividend for Terex shareholders of $1 per share to its original $30 cash offer. Sources say Terex has responded by asking for $32.75 per share to terminate its aggreement with Konescranes. Terex seems to prefer cash to more complicated financial offers.

Negotiations continue. Reuters reports discussions between Terex and Zoomlion have not advanced beyond price. 

Source: Reuters; Financial Times