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Zoomlion bid over
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CHINESE machinery maker Zoomlion yesterday said it had stopped negotiations to acquire Terex Corp, after the two failed to reach consensus on key acquisition items.
Zoomlion said in January that it was in discussion with the American construction manufacturer about the proposed acquisition. In March, it said it was offering US$31 per share to acquire Terex, but the latter signed agreements with Finnish company Konecranes in May to sell its material handling and port solution services.
Zoomlion proceeded with negotiations with Terex, but things did not work out.
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