Goldman Sachs Upgrades Terex (TEX) to Neutral
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Terex (TEX), Konecranes Enter All-Stock Merger Agreement
August 11, 2015 6:15 AM EDTTerex (NYSE: TEX) and Konecranes Plc jointly announced that their respective Boards of Directors have unanimously approved a definitive business combination agreement and the resulting all-stock merger of equals.
Konecranes and Terex will combine to create a single company with estimated pro forma 2014 revenues and EBITDA of $10.0 billion and $845 million, respectively. Upon completion of the transaction, Terex shareholders will own approximately 60% of the combined company and Konecranes shareholders will own approximately 40%. The new company will be named Konecranes Terex Plc and will be incorporated in Finland.
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Terex (TEX) said to be in advanced talks to merge with Konecranes - Bloomberg
August 10, 2015 4:37 PM EDTTerex (NYSE: TEX) said to be in advanced talks to merge with Konecranes, according to Bloomberg.
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