Zoomlion continues to challenge Terex-Konecranes merger

Chinese industrial group Zoomlion has challenged Terex’s merger with Konecranes by improving its offer to acquire the American equipment manufacturer, according to Reuters’ sources.

Zoomlion offered to pay Terex’s shareholders an additional special dividend of US$1 per share which would bring the cash offer to US$31 per share, thus increasing its bid to US$3.4bn.

In response, Terex reportedly asked for US$32.75 per share in cash to finalise a deal and terminate its merger agreement with Finnish equipment manufacturer Konecranes.