Zoomlion is preparing for its acquisition of Terex despite the US-based equipment manufacturer’s board of directors maintaining their recommendation to proceed with a merger with Konecranes.
The Chinese manufacturer has prepared a concrete financing plan for the proposed takeover of Terex and plans to utilise its own cash on hand (representing 40% of the overall financing plan) and bank debt financing (representing 60% of the overall financing plan) to complete the deal.
A statement from Zoomlion, released on the same day as Terex’s annual 2015 results, noted that it had received letters of support from relevant banks for the debt financing portion.
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