WESTPORT, Conn.--(BUSINESS WIRE)--Feb. 19, 2016--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160219006008/en/
Source: Terex Corporation
Terex Corporation
Tom Gelston, (203) 222-5943
Vice President,
Investor Relations
thomas.gelston@terex.com