Terex and Cat Deal Scuttled

Dec. 16, 2003
Terex Corporation today announced it has terminated discussions with Caterpillar regarding the sale of Terex's mining truck business to Caterpillar. The two companies could not reach a satisfactory financial deal, said Ronald M. DeFeo, Terex's Chairman and Chief Executive Officer. Said DeFeo: "We were unable to conclude this deal because of a difference in value. The complexity of this transaction,
Terex Corporation today announced it has terminated discussions with Caterpillar regarding the sale of Terex's mining truck business to Caterpillar. The two companies could not reach a satisfactory financial deal, said Ronald M. DeFeo, Terex's Chairman and Chief Executive Officer.

Said DeFeo: "We were unable to conclude this deal because of a difference in value. The complexity of this transaction, coupled with a need to sell various distribution entities to third party Caterpillar dealers, shifted too much of the risk to Terex shareholders, and I felt this outweighed the strategic logic of the transaction."

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!