Bucyrus Didn't Follow Terms Of $1.3B Terex Deal: NY Court

Law360, New York (April 17, 2012, 5:04 PM EDT) -- A New York state appeals court on Tuesday overturned a summary judgment ruling in a contract dispute over Bucyrus International Inc.'s $1.3 billion purchase of Terex Corp.'s mining equipment unit, saying Bucyrus did not follow the terms of the purchasing agreement when it attempted to revalue the Terex unit.

The Appellate Division of New York Supreme Court said that Bucyrus did not abide by the purchase agreement when it submitted a supplementary net asset value for the unit of $265.5 million, well below the $433 million...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.