Caterpillar,Terex Scrap Mining Partnership Over What One Calls 'a Difference in Value'
Two of the largest equipment manufacturers in the world have terminated a nonbinding agreement to acquire and cross-promote their mining-equipment businesses.
In a surprising turn of events, the huge win-win deal between Caterpillar Inc., Peoria, Ill., and Terex Corp., Westport, Conn., fell through early last month. The two manufacturers evidently could not agree on terms after more than five months of due diligence, despite the obvious benefits for both companies.