Chinese US$3.3bn Terex bid throws doubt over Konecranes deal

Chinese heavy-equipment manufacturer Zoomlion has made a US$3.3bn for US-based Terex, giving rise to uncertainty over the latter’s potential merger with Finnish company Konecranes.

Zoomlion has offered to acquire all of Terex’s outstanding shares for U$30 each, representing an almost 100% premium to the stock’s closing price prior to the announcement.

In a statement, Terex, which owns port equipment manufacturer Terex Port Solutions (TPS), noted: “The Terex board of directors has not changed its recommendation of the proposed combination with Konecranes.”