Skip to content
Subscriber Only
Markets
Deals

Terex Said to Rebuff Takeover Approach From China's Zoomlion

  • Rival to Konecranes deal offered $30 a share for cranemaker
  • Konecranes and Terex agreed to an all-stock merger in August
Updated on

Terex Corp., the U.S. crane and construction-machinery maker that agreed to combine with Finnish competitor Konecranes Oyj, received an unsolicited takeover bid from China’s Zoomlion Heavy Industry Science & Technology Co.

Zoomlion made an all-cash offer of $30 a share for Terex, according to a statement Tuesday from the Westport, Connecticut-based company. That values Terex at about $3.3 billion, data compiled by Bloomberg show. Terex has entered into a confidentiality agreement with Zoomlion and is in discussions regarding the proposal, according to the statement.