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
Tue, 08.10.2024       Terex
US8807791038

Purchase price of $2.0 billion; $1.725 billion net of expected tax benefitsReduces cyclicality, delivers financial accretion and lowers capital intensityExpected to Unlock ~$25 million of cost and revenue synergies by 2026Enhances presence in waste & recycling segment; expands North American addressable market

NORWALK, Conn., Oct. 8, 2024 /PRNewswire/ -- Terex Corporation (NYSE: TEX) ("Terex" or "Company") today announced completion of its acquisition of Environmental Solutions Group ("ESG") from Dover Corporation (NYSE: DOV). Terex anticipates that ESG will drive increased revenue growth, free cash flow, earnings before interest, taxes, depreciation, and amortization ("EBITDA") margin, and EPS accretion. The transaction is expected to be double-digit percentage adjusted EPS accretive in 2025, with meaningful growth thereafter. The all-cash transaction is for $2.0 billion, or $1.725 billion when adjusted for the present value of expected tax benefits of approximately $275 million. The acquisition represents approximately 8.4x 2024E earnings before interest, taxes, depreciation, and amortization (EBITDA) including expected run-rate synergies. With ESG, Terex will now derive 67% of its total revenue from North America, an increase from 61% based on trailing 12 months results ended Q2 2024.

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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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