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."
