Stifel Cuts Price Target on Terex (TEX) to $25 as Zoomlion Deal Falls Through
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Terex Announces Talks with Zoomlion Terminated
May 27, 2016 8:23 AM EDTAgreement to Sell the Material Handling & Port Solutions Business to Konecranes to Proceed
WESTPORT, Conn.--(BUSINESS WIRE)-- Terex Corporation (NYSE: TEX) today announced discussions with Zoomlion Heavy Industry Science and Technology Co. (Zoomlion) regarding the purchase of Terex Corporation, either with or without the MHPS segment, have been terminated. Terex also announced that the sale of its Material Handling and Port Solutions business (MHPS) to Konecranes will proceed. The sale of MHPS to Konecranes for approximately $1.3 billion is subject to customary regulatory approvals and the approval of the shareholders of Konecranes,... More
