Terex, Bucyrus Spar Over $1.3B Merger Price Adjustment

Law360, New York (October 18, 2011, 7:24 PM EDT) -- Bucyrus International Inc. and Terex Corp. battled before a New York appeals court Tuesday over whether Bucyrus abused post-closing adjustments to reduce the price of its $1.3 billion purchase of Terex's mining equipment business.

Terex sold its mining equipment unit to Bucyrus in February 2010 for $1 billion in cash and $300 million worth of Bucyrus shares, but alleges in its complaint filed in November 2010 that Bucyrus breached an asset and stock purchase agreement in an effort to shave $150 million off the net asset...
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