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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (4126)	3/16/2016 11:09:15 AM
From: richardred	Read Replies (1) \| Respond to of 7148

RE - Zoomlion decision looms We've now heard something from ZL. It's not quite dollar wise what TEX wanted to hear to start talks. However what's interesting is Terex's timing in it's decision to shut it's German industrial crane & port cranes down and shift the work to China. Terex Port to cut 240 jobs March 16, 2016 \| Comments (0) Terex is planning to cut 240 jobs at its Germany-based industrial crane and port divisions. According to local press reports, the cuts are said to be caused by a decline in sales and the potential transfer of production to China. It is expected to affect four locations in Germany. Terex MHPS’ - formerly Demag Cranes, with offices in Uslar and Wetter (Ruhr) is expect to lose a total of 160 employees, while 80 more are set to be cut in Terex Port Solutions’ facilities in Dusseldorf (harbour cranes) and Central Wurzburg (straddle carriers). The move follows 50 jobs cuts at Terex’s Dusseldorf branch last November. The cuts are expected to affect four locations in Germany vertikal.net Terex Shares Rally Following Report Of Improved Bid From Zoomlion Manikandan Raman , Benzinga Staff Writer March 15, 2016 3:23pm Comments Shares of cranemaker Terex Corporation TEX 1.15% have surged as much as 12 percent after a Reuters report said China's Zoomlion Heavy Industry Science & Technology Co Ltd has raised its bid for Terex. Zoomlion has increased its offer to more than $3.4 billion by adding a special dividend for Terex shareholders of $1 per share to its previous $30 per share cash offer, the report said citing people familiar with the matter. Terex has demanded $32.75 per share in cash to terminate its merger agreement with Finland's Konecranes and agree to sell itself to Zoomlion, the report said. In August 2015, Terex and Konecranes announced their merger under which Konecranes has offered 0.8 of its shares for each Terex share. However, late February, Terex and Konecranes have determined that it would be prudent to pause the integration planning activities for the time being. Shares of Terex were up 8.6 percent at $23.68. The stock has gained 22 percent this year. Read more: benzinga.com