Equipment manufacturer Terex Corp. announced May 16 that it is ending its plan to merge with Konecranes, and will instead sell its material-handling and port solutions [MHPS] unit to the Finnish-based company for $1.3 billion.
Paint manufacturing giant Sherwin-
Williams Co. on March 20 announced that it will acquire rival The Valspar Corp. in an all-cash transaction worth roughly $9 billion.
One of the largest mergers in the world of construction equipment has been put on hold. U.S.-based Terex Corp says it is halting all merger activities with Finnish-based Konecranes while it considers an acquisition offer from China-based Zoomlion.
China-based equipment manufacturer Zoomlion Heavy Industry Science and Technology Co. has made an unsolicited offer to acquire U.S.-based Terex Corp., possibly upsetting a merger of the company with Finland-based Konecranes.
In a competition that involved at least a dozen global contenders, Milan-based Salini Impregilo has emerged as the apparent winner in its bid to acquire Lane Industries Inc., a major U.S. transportation contractor, as the Italian firm seeks to boost its position in a U.S. market set to grow with soon-to-be-enacted highway funding legislation and more equity financing.
