Terex Gets Mixed Ruling In Suit Over $1.3B Bucyrus Deal

Law360, New York (June 8, 2011, 10:15 PM EDT) -- A New York judge on Tuesday handed down a mixed ruling in Terex Corp.'s lawsuit claiming Bucyrus International Inc. abusively reduced the price of its $1.3 billion purchase of Terex's mining equipment business.

New York Supreme Court Judge Melvin L. Schweitzer sided with Bucyrus' interpretation of the post-closing price adjustment mechanism contained in the purchase agreement, saying the mechanism “was designed not only to flag changes occurring in the period between signing and closing, but also to deal with a wider range of accounting issues.”...
To view the full article, register now.