Terex, Konecranes Announce All-Stock Merger

Terex Corporation TEX and Konecranes Plc KNCRY today jointly announced that their respective Boards of Directors have unanimously approved a definitive business combination agreement and the resulting all-stock merger of equals. Konecranes and Terex will combine to create a single company with estimated pro forma 2014 revenues and EBITDA of $10.0 billion and $845 million, respectively. Upon completion of the transaction, Terex shareholders will own approximately 60% of the combined company and Konecranes shareholders will own approximately 40%. The new company will be named Konecranes Terex Plc and will be incorporated in Finland. Compelling Strategic Rationale See full press release