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Terex (TEX) has issued an update.
Terex Corporation is set to acquire the Environmental Solutions Group from Dover Corporation for $2 billion, expanding its reach into the solid waste and recycling industry. This cash transaction is supported by a $1,545 million financing commitment from UBS and includes adjustments based on the ESG business’s financial status at closing. Scheduled to close in late 2024, the deal is contingent on regulatory approval and other standard conditions. Concurrently, Terex has secured additional funds through an Incremental Assumption and Amendment Agreement with UBS AG, enhancing its existing credit arrangements to facilitate this strategic acquisition.
Learn more about TEX stock on TipRanks’ Stock Analysis page.