Terex Corp. received an unsolicited, non-binding acquisition proposal from Zoomlion Heavy Industry Science and Technology Co. to acquire all of the outstanding shares of Terex for $30 in cash.
Terex entered into a confidentiality agreement with Zoomlion and is in discussions with Zoomlion regarding the proposal. The Terex board of directors is reviewing the Zoomlion proposal to determine a course of action that will best serve the interest of Terex shareholders.
Terex previously announced it had entered into a merger with Konecranes. The Terex board of directors has not changed its recommendation of the proposed combination with Konecranes.