JPMorgan Upgrades Terex (TEX) to Neutral
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Terex Corporation Confirms Receipt of Unsolicited Proposal from Zoomlion
January 26, 2016 1:10 PM ESTWESTPORT, Conn.--(BUSINESS WIRE)-- Terex Corporation (NYSE: TEX) that it has received an unsolicited, non-binding acquisition proposal from Zoomlion Heavy Industry Science and Technology Co. (Zoomlion) to acquire all of the outstanding shares of Terex for $30.00 in cash. The proposal is conditioned on, among other things, receipt of US and Chinese regulatory approval and Zoomlion shareholder approval.
Terex previously announced that it had entered into a Business Combination Agreement with Konecranes Plc providing for a combination of Terex and Konecranes. The Terex Board of Directors has not changed its recommendation of the proposed combination... More
