Terex to merge with REV Group.

Terex, an American global manufacturer of industrial equipment, offered to merge with REV Group, an American manufacturer of specialty vehicles and related aftermarket parts and services. Terex shareholders will own 58% of the combined company, while REV Group shareholders will own the remaining 42%. Financial terms were not disclosed. "This transaction represents a transformative step for both companies. By combining our complementary portfolios and leveraging our collective strengths, we are creating a large-scale, diversified industrial leader well-positioned to capitalize on long-term secular growth trends. The transaction will unlock significant value for both Terex and REV Group shareholders and creates exciting opportunities for our team members and customers by strengthening our ability to invest in the combined business, innovate and deliver quality solutions," Simon Meester, Terex CEO.