Konecranes Plc - Acquisition of MHPS business to continue in accordance with the stock and asset purchase agreement
On May 16, 2016, Konecranes announced that it has signed an agreement (the “Stock and Asset Purchase Agreement) to acquire from Terex Corporation (“Terex”) its Material Handling & Port Solutions segment ("MHPS") (the "Acquisition"). According to its terms, the Stock and Asset Purchase Agreement could be terminated by Terex prior to May 31, 2016, if it enters into, or reasonably believes that it will promptly enter into, a legally binding merger agreement with Zoomlion Heavy Industries Science & Technology Co., Ltd. (“Zoomlion”), in which case, it would pay Konecranes a termination fee