Terex and Konecranes to Combine in an All-Stock Merger
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Goldman Sachs Upgrades Terex (TEX) to Neutral
August 12, 2015 8:47 AM EDTGoldman Sachs upgraded Terex (NYSE: TEX) from Sell to Neutral with a price target of $29.00 (from $18.00).
For an analyst ratings summary and ratings history on Terex click here. For more ratings news on Terex click here.
Shares of Terex closed at $26.78 yesterday.
... MoreTerex (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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