Terex Sues Bucyrus Over Adjustments To $1.3B Deal

Law360, New York (November 2, 2010, 3:56 PM EDT) -- Terex Corp. has launched a lawsuit accusing Bucyrus International Inc. of abusing post-closing adjustments to reduce the price of its $1.3 billion purchase of Terex's mining equipment business.

In a complaint filed Friday in the New York State Supreme Court for New York County, Terex claims that Bucyrus has breached an asset and stock purchase agreement in an effort to shave $150 million off the net asset value of the mining business.

Terex sold the unit to Bucyrus in February for $1 billion in cash and...
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