Zoomlion Shares Tumble After Sweetening Terex Offer
- Zoomlion raised offer to $31 per share, up by $1 per share
- Terex must pay $37 million if Konecranes tie-up is called off
This article is for subscribers only.
Zoomlion Heavy Industry Science & Technology Co., a Chinese industrial machinery manufacturer, tumbled the most in more than eight months in Hong Kong trading after raising its offer to buy U.S. cranemaker Terex Corp.
The shares fell 8.2 percent to close at HK$2.91 in Hong Kong, the biggest single-day loss since July 8. Zoomlion’s Shenzhen-traded shares dropped 2.8 percent.