China looks to buying USA expertise especially when it's markets are deteriorating.

2016-01-28
By Yang Ziman and Feng Zhiwei

China's Zoomlion Heavy Industry (click here) Science & Technology Co confirmed on Wednesday an unsolicited takeover bid for Terex Corp, the US crane and construction machinery maker.

The deal will be vital to Zoomlion's transformation and the implementation of the company's global strategy, and it will help increase Zoomlion's revenue and profits.

According to a Terex statement, Zoomlion has offered $30 per share for the company, valuing it at $3.2 billion.

The offer is twice Terex's stock price on Monday, which closed at $15.01 per share in New York. The shares surged 37 percent on Tuesday to $20.5, pushing its market capitalization to $2.2 billion.

The Terex board said it is carefully reviewing the Zoomlion proposal to determine what course of action is in the best interests of its shareholders....

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