Three's company in the construction-equipment industry. After a months-long bidding war over Terex, the U.S. cranemaker seems to have found a way to strike a deal with both its Finnish partner and Chinese suitor.
Konecranes is offering $1.3 billion in stock and cash for Terex's material-handling and ports division. The deal is in lieu of a full-blown merger that was in the works since August 2015 but had been thrown in doubt when Chinese rival Zoomlion made a surprise counterbid in January. The new arrangement paves the way for Zoomlion to buy the rest of Terex, whose other businesses include construction equipment and rock-crushing machines.
