Stifel Cuts Price Target on Terex (TEX) to $25 as Zoomlion Deal Falls Through

Morgan Stanley Downgrades Terex (TEX) to Equalweight

Morgan Stanley downgraded Terex (NYSE: TEX) from Overweight to Equalweight with a price target of $21.00 (from $26.00).

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 $20.89 yesterday.

UPDATE: Terex (TEX) Said to Want $31/Share or More from Zoomlion

(Updated - May 27, 2016 2:48 PM EDT)

Terex (NYSE: TEX) said to want $31 per share or more from Zoomlion, according to Bloomberg.

UPDATE - News comes from Terex vice president Tom Gelston today.

Gelston also noted that... More

Unusual 11 Mid-Day Movers 5/27: (VSLR) (STKL) (CAL) Higher; (HERO) (UNXL) (TEX) Lower

Hercules Offshore, Inc. (Nasdaq: HERO) 39.7% LOWER; announced, following a review of its strategic alternatives led by a Special Committee comprised of all of its independent Board members, that the Company has entered into a Restructuring Support Agreement ("RSA") with lenders holding approximately 99 percent of the indebtedness under its first lien credit agreement. The agreement seeks to maximize value for the Company's stakeholders and provide a smooth transition for employees, customers and suppliers through an orderly sale of the Company's assets.

Vivint Solar (NYSE:... More

Notable M&A for 5/27: (TMO)/(FEIC) (VRX) (TEX)

*** Thermo Fisher Scientific Inc. (NYSE: TMO) and FEI (Nasdaq: FEIC) announced that their boards of directors have unanimously approved Thermo Fishers acquisition of FEI for $107.50 per share in cash. The transaction represents a purchase price of approximately $4.2 billion.

FEI designs, manufactures and supports high-performance electron microscopy workflows that provide images and information at micro-, nano- and picometer scales. Through its industry-leading offering, FEI enables customers across life sciences and materials science markets to make breakthrough discoveries and increase productivity. Based in Hillsboro, Oregon, FEI has more... More

Pre-Open Stock Movers 05/27: (RLYP) (TTNP) (FEIX) Higher; (HERO) (UNXL) (TEX) Lower (more...)

Today's Pre-Open Stock Movers:

Hercules Offshore, Inc. (Nasdaq: HERO) 48.5% LOWER; announced, following a review of its strategic alternatives led by a Special Committee comprised of all of its independent Board members, that the Company has entered into a... More

Evercore ISI Downgrades Terex (TEX) to Hold

Evercore ISI downgraded Terex (NYSE: TEX) from Buy to Hold with a price target of $21.00 (from $31.00).

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 $24.33 yesterday.

Terex (TEX) Affirms Termination of Talks with Zoomlion

Terex Corporation (NYSE: TEX) 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... More

Zoomlion Terminates Negotiation in Relation to Proposed Acquisition of Terex (TEX)

This announcement is made by Zoomlion Heavy Industry Science and Technology Co., Ltd. (the Company) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Reference is made to the announcements of the Company dated 27 January 2016, 17 February 2016 and 24 March 2016 (together, the... More

Konecranes-Terex deal to proceed as China's Zoomlion drops rival bid

By Anne Marie Roantree and Tuomas Forsell

HONG KONG/HELSINKI (Reuters) - China's Zoomlion Heavy Industry Science and Technology Co Ltd has abandoned its $3.4 billion bid for U.S. crane maker Terex Corp (NYSE: TEX), clearing the way for a smaller deal between Terex and Finland's Konecranes .

The decision comes after six months of merger talks between Terex and Zoomlion and marks the latest setback to corporate China's ambitions to acquire U.S. assets. In March, Anbang Insurance Group Co unexpectedly withdrew its $14 billion offer to buy Starwood Hotels & Resorts... More