UPDATE: TEREX REJECTS ZOOMLION TAKEOVER APPROACH
Offer of $30 a share refused. Bloomberg Business valuesTerex at about $3.3 billion.
Terex has reportedly rebuffed the proposal from the Chinese manufacturer and is focused on completing its merger with Konecranes. Zoomlion has not abandoned its interest in Terex but it is not clear if the company will improve on its offer.
Zoomlion is China’s second biggest maker of construction equipment by revenue and has announced $793 million of acquisitions in the past five years.
Source: Bloomberg Business