ZOOMLION's acquisition of Terex Corp plans to terminate      

In May 27th, ZOOMLION announced the termination of the takeover of Terex Corp. The announcement shows that the two sides have worked closely on the acquisition, but failed to reach agreement on key terms, so they decided to end the negotiations on acquiring Terex Corp. ZOOMLION will continue to look for strategic opportunities for its long-term development, further promoting the company's strategic transformation and industrial upgrading.

According to ZOOMLION confirmed that negotiations with Terex development has always been in a candid and friendly atmosphere.

ZOOMLION was in March this year, a full-scale takeover Teleikesi to 31 dollars per share in cash transaction price. In May, we signed an agreement with Finland Konecranes company, intends to sell material handling and port's solution to Berlusconi (MHPS) plate. ZOOMLION from the material handling and port solutions business gain synergy is very limited; and peeling off this part of the assets after the acquisition of ZOOMLION Teleikesi will more easily through the acquisition of regulatory scrutiny, thus greatly improve the transaction uncertainty.

ZOOMLION previously quoted in maintaining the premise, actively promote the acquisition of the remaining business negotiations Teleikesi, also prepared a perfect financing plan for the transaction, including its own funds and bank loans to.

It can be seen from the company announcement that the two sides failed to agree on key terms. They should not agree on the price of Terex Corp after stripping material handling and port solution (MHPS) business.

Although the negotiations have been terminated, it can be seen that ZOOMLION's overseas M & a strategy is mature and robust.

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