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May 31, 2016

Chinese firm drops bid for Terex cranes

HONG KONG (AP) — Chinese heavy equipment maker Zoomlion said Friday it's abandoning its takeover bid for U.S. crane maker Terex because it failed to reach a deal after months of talks.

Zoomlion, which made its unsolicited offer at the start of the year, said in a filing Friday to the Hong Kong stock exchange that “no agreement can be made on the crucial terms” so it decided to terminate its offer.


 
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