Terex Buys ASVCED, April 2008
Article Date: 04-01-2008
Copyright(C) 2008 Associated Equipment Distributors. All Rights Reserved.
ASV, a compact equipment manufacturer, is now a wholly-owned subsidiary of Terex Corp. and part of the Terex Construction segment. Through its direct wholly owned subsidiary, Terex Minnesota, Terex acquired all of the remaining outstanding shares of ASV common stock by means of a merger under Minnesota law Feb. 26. In the merger, each outstanding share of common stock, par value $0.01 per share, of ASV not tendered in the tender offer (other than shares to which the holder has properly exercised dissenters' rights) was converted into the right
to receive $18 in cash per share, without interest."We are extremely enthusiastic that ASV and its team members are now part of the Terex Construction family," said Robert Isaman, president, Terex Construction. "With ASV as a proven leader in compact track loader technology combining the global reach of Terex, we see a real opportunity for expanding ASV product sales. ASV is an excellent strategic and cultural fit and provides a great addition to our product offerings as Terex continues to grow as a global construction equipment manufacturer."Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries. ASV designs, manufactures and sells rubber track machines and related components, accessories and attachments.
[ TOP ]