Terex Corp (TEX)

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Terex and Konecranes to Combine in an All-Stock MergerDate :08/11/2015 @ 2:00AMSource :Business WireStock :Terex Corp. (TEX)Quote : 21.83  0.99 (4.75%) @ 8:00PM

Terex and Konecranes to Combine in an All-Stock Merger

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Terex (NYSE:TEX)
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Today : Tuesday 11 August 2015

Combination of Two Highly Complementary Businesses to Create a Global Leader in Lifting & Material Handling Solutions

Creates an industry leader with expected $10.0 billion in pro forma 2014 revenueResults in a stronger more competitive global lifting and material handling companyExpected to be accretive to both companies' shareholders in first full yearIdentified annual after-tax synergies of at least $119 millionNew Company plans to authorize a $1.5 billion share repurchase and initial annual dividend of approximately $1.15 per share