Terex Updates Status of Integration Activities
February 19 2016 - 5:14PM
Business Wire
Terex Corporation (NYSE: TEX) announced that Terex and
Konecranes have determined that it would be prudent to pause the
integration planning activities for the time being. This will allow
the Terex management team to devote its attention to improving the
Company’s operating results and delivering on management’s
commitment to shareholders.
The Terex Board of Directors has not changed its recommendation
of the merger. Terex and Konecranes continue to move forward with
all necessary filings to achieve antitrust, regulatory and
shareholder approvals that are required to complete the merger
transaction.
About Terex
Terex Corporation is a lifting and material handling solutions
company reporting in five business segments: Aerial Work Platforms,
Construction, Cranes, Material Handling & Port Solutions and
Materials Processing. Terex manufactures a broad range of equipment
for use in various industries, including the construction,
infrastructure, manufacturing, shipping, transportation, refining,
energy, utility, quarrying and mining industries. Terex offers
financial products and services to assist in the acquisition of
Terex equipment through Terex Financial Services. Terex uses its
website (www.terex.com) and its Facebook page
(www.facebook.com/TerexCorporation) to make information available
to its investors and the market.
Important Information For Investors And Shareholders
This document does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. In connection with the proposed transaction
between Terex and Konecranes, Terex and Konecranes will file
relevant materials with the Securities and Exchange Commission (the
“SEC”), including a Konecranes registration statement on Form F-4
that will include a proxy statement of Terex that also constitutes
a prospectus of Konecranes, and a definitive proxy
statement/prospectus will be mailed to stockholders of Terex.
INVESTORS AND SECURITY HOLDERS OF TEREX ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH
THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and
security holders will be able to obtain free copies of the
registration statement and the proxy statement/prospectus (when
available) and other documents filed with the SEC by Terex or
Konecranes through the website maintained by the SEC at
http://www.sec.gov. Copies of the documents filed with the SEC by
Terex will be available free of charge on Terex’s internet website
at www.Terex.com.
Terex, its directors and certain of its executive officers may
be considered participants in the solicitation of proxies in
connection with the proposed transaction. Information about the
directors and executive officers of Terex is set forth in its proxy
statement for its 2015 annual meeting of stockholders, which was
filed with the SEC on April 1, 2015. Other information regarding
the participants in the proxy solicitations and a description of
their direct and indirect interests, by security holdings or
otherwise, will be contained in the proxy statement/prospectus and
other relevant materials to be filed with the SEC when they become
available.
Forward Looking
Statements
This press release contains forward-looking information based on
the current expectations of Terex Corporation. Because
forward-looking statements involve risks and uncertainties, actual
results could differ materially. Such risks and uncertainties, many
of which are beyond the control of Terex, include those factors
that are more specifically set forth in the public filings of Terex
with the Securities and Exchange Commission. Actual events or the
actual future results of Terex and Konecranes may differ materially
from any forward looking statement due to those and other risks,
uncertainties and significant factors. The forward-looking
statements speak only as of the date of this press release.
Terex expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statement included in this press release to reflect any changes in
expectations with regard thereto or any changes in events,
conditions, or circumstances on which any such statement is
based.
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version on businesswire.com: http://www.businesswire.com/news/home/20160219006008/en/
Terex CorporationTom Gelston, (203) 222-5943Vice President,
Investor Relationsthomas.gelston@terex.com
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