Deals
Terex’s Chinese Suitor Talks End, Konecranes Deal Proceeds
- Zoomlion says couldn’t agree on price after lifting-gear pact
- U.S. cranemaker had concerns China regulator would block bid
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U.S. crane-maker Terex Corp.’s talks with a Chinese suitor broke down after disagreement on terms, clearing the way for its planned $1.3 billion sale of a ports lifting-gear business to competitor Konecranes Oyj.
Zoomlion Heavy Industry Science and Technology Co. decided it wouldn’t be able to agree on a price for Terex’s business once the lifting-gear unit was excluded, the Chinese company said in a statement Friday.