PR Newswire

The newsfeed available here is provided by our content partner PR Newswire. This is one of the most important and widest-reaching press services, providing news, press releases and multimedia content to the media, journalists and the public.
The NewsWire Hub ("X-Billboard") currently comprises four of the most important international news sources and is supplemented by a stock market information service. The individual newswire services complement each other and provide a complementary range of information, more than three quarters of the official news sources on which editors worldwide base their stock market reporting. Your advantage: You will find everything here in one overview. You can navigate to the individual sections using the control elements. In the terminal view, you can carry out individual searches at company level.
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PR Newswire is an important news source that can be accessed via the X-Billboard. It is part of the Newswire Hub, which bundles important international news sources for stock market participants in one central location. If you want to get a quick overview, you can easily scroll through the headlines. If you want to look at the news in more detail, you can use the detailed views of the info cards to directly access the respective news item and other analysis tools.
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State: 17.08.2024 | 11PM
Mon, 22.07.2024       Terex
US8807791038

Purchase price of $2.0 billion; $1.725 billion net of expected tax benefits

Reduces cyclicality, delivers financial accretion and lowers capital intensity

Unlocks ~$25 million of cost and revenue synergies by 2026

Enhances presence in attractive waste & recycling segment; expands North American addressable market

Terex to host investor conference call to discuss transaction on July 22, 2024 at 8:30 a.m. Eastern

NORWALK, Conn., July 22, 2024 /PRNewswire/ -- Terex Corporation (NYSE: TEX) (the "Company") today announced it has signed a definitive agreement to acquire Environmental Solutions Group ("ESG") from Dover Corporation (NYSE: DOV), in a $2.0 billion all-cash transaction.  When adjusted for the present value of expected tax benefits of approximately $275 million, the purchase price is $1.725 billion. This represents approximately 8.4x 2024E earnings before interest, taxes depreciation and amortization (EBITDA) including expected run-rate synergies. ESG is a leader in the design and manufacturing of refuse collection vehicles, waste compaction equipment, and associated parts and digital solutions.

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Note: The newswire cross-link panel at the top allows you to quickly and easily access additional sources of information. In the terminal view, the news is filtered at company level and enables targeted searches.

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