Sources: Terex Corp., Westport, Conn.; CP staff
Eyeing global scale and near-term earning synergies upward of $120 million, Terex Corp. and Konecranes Plc of Helsinki plan an all-stock “merger of equals,” creating a company whose 2014 revenues totaled about $10 billion. Terex and Konecranes shareholders will own approximately 60 percent and 40 percent, respectively, of the combined business, to operate as Konecranes Terex Plc, based in Finland with major corporate functions continuing in Connecticut.
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