Terex Konecranes plans paused

By Alex Dahm22 February 2016

Planning of the proposed merger between Terex Corporation and Konecranes has been paused. A Terex statement said “it would be prudent to pause the integration planning activities for the time being. This will allow the Terex management team to devote its attention to improving the company’s operating results and delivering on management’s commitment to shareholders.”

The Terex Board of Directors recommendation of the merger still stands and filings are ongoing in pursuit of approvals from shareholders, antitrust and regulatory authorities necessary to complete the merger, Terex said.

Terex and Konecranes announced the merger proposal to form Konecranes Terex last August. Since then Terex received an unsolicited offer from Chinese crane and construction equipment manufacturer Zoomlion to acquire it for US$ 3.3 billion.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
New SCRA resource to help tower crane rental agreements
Understanding Tower Crane Bare Rental Agreements was introduced last week at the Crane and Rigging Workshop in Chicago, USA
Manitex Valla unveils V210R electric crane
Manitex Valla has launched the brand new V210R radio or cab controlled compact electric mobile crane.
New U.S. dealers for Goldhofer
Goldhofer Transport Technology extends its network in North America.
CONNECT WITH THE TEAM
D.Ann Shiffler Editor, American Cranes & Transport Tel: +1 512 869 8838 E-mail: d.ann.shiffler@khl.com
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: matt.burk@khl.com
CONNECT WITH SOCIAL MEDIA