Amid a more stringent competition and weak European and Chinese markets, U.S. cranes and heavy equipment manufacturer Terex and its Finnish competitor Konecranes have recently agreed to a $10 billion all-share merger, Reuters reported on Tuesday, August 11.
According to the deal, Terex investors will own 60% of the combined company while shareholders from Konecranes will own the rest of the company. The enlarged entity, which will be called Konecranes Terex, will be based in Hyvinkaa, Finland, as well as Westport, Connecticut.
The two companies said the deal would help them save costs and aim for cross-selling amid market challenges. They also hope that the move will generate $119 million in annual net income benefits three years after its completion.
The merger is expected to end early next year.
Mergers such as this are strategic – especially when dealing with market challenges. At Arenson Law Group, PC, we guide businesses in Cedar Rapids when pursuing such transactions. Call us at (319) 363-8199 for assistance today.
Multinational consumer goods company Procter & Gamble (P&G) is selling 43 of its hair care, fragrance, and cosmetics brands to beauty products manufacturer Coty Inc. in a merger worth $12.5 billion, the Business Insider reported July 9.
P&G expects the deal to result in a one-time gain of $5 billion to $7 billion. P&G CEO A.G. Lafley said Coty Inc. will be a strategic company to house the brands and the people handling them. Meanwhile, analysts from Bank of America Merrill Lynch predicted that the deal would enable Coty to double its sales.
Among the brands involved in the merger are Gucci fragrances and CoverGirl makeup.
Mergers are strategic business transactions that can fortify your business amid market challenges. To get the most out of such business transactions in Cedar Rapids, enlist the help of a business lawyer at Arenson Law Group, PC, for assistance through the complex legal requirements these processes entail. Call us at (319) 363-8199 today.
The Federal Trade Commission (FTC) approved the merger of the two biggest cement makers in the world, Swiss-based Holcim Ltd and Paris-based Lafarge S.A., after the two agreed to divest some of its U.S. assets, Reuters reported on May 4.
To win the FTC’s approval of the $25 billion worth of merger deal, Lafarge agreed to sell distribution centers stationed in Louisiana, Minnesota, Tennessee and Wisconsin, as well as a cement plant and a quarry in Iowa. On the other hand, Holcim agreed to sell slag cement facilities located in New Jersey and Chicago, along with terminals located in Illinois and Michigan, among other U.S. states.
Last December, the two companies won the merger approval from the European Union’s antitrust authorities.
Mergers and acquisitions can be a sure way to reach greater market heights. To help you with all the legal matters surrounding such business transactions, you may seek the help of our team of Iowa business law attorneys at Arenson Law Group, PC, by calling (319) 363-8199 today.