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Terex Corp. announces that it will engage in negotiations with Zoomlion Heavy Industry Science & Technology Co. after the Chinese company raises its offer for the U.S. construction-crane maker to $3.4 billion. Terex's board maintains its recommendation for an all-stock merger with Konecranes Oyj but wants to explore the binding purchase agreement proposed by Zoomlion. The situation highlights the competitive landscape in the construction industry and potential consolidation among major players.
Thursday, 24 March, 2016