SUBSCRIBERS
China's Zoomlion abandons pursuit of cranemaker Terex
Published Sun, May 29, 2016 · 09:50 PM
London
ZOOMLION of China is dropping its pursuit of US crane and heavy equipment maker Terex Corp.
Terex and Konecranes of Finland announced in August that they would merge in an all-stock deal, but Zoomlion swooped in with a competing bid in January to acquire Terex for US$30 a share in cash, or about US$3.3 billion. Zoomlion raised its bid to US$31 a share in March.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Airbus net profit soars 28% in first quarter
Carrier AirAsia discloses new listing plans under RM6.8 billion units merger
Intel slides after tepid forecast spurs fears about comeback
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum
Snap beats first-quarter expectations, shares jump 25%