In a statement made last Friday, Terex Corporation reports that Terex and Konecranes have paused the integration planning activities. Terex said this will allow its management team to improve on the company’s operating results and deliver on management’s commitment to shareholders.
According to the company statement, the Terex Board of Directors has not changed its recommendation of the merger. The company said "Terex and Konecranes will continue to move forward with all necessary filings to achieve antitrust, regulatory and shareholder approvals that are required to complete the merger transaction."
In a separate statement made by Konecranes, the company said it is "fully committed to the merger and continues to believe that the merger represents a highly compelling opportunity for both companies and their shareholders." Konecranes reported that only the post-merger business integration planning discussions has been suspended, which is only one of the merger work streams.
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