Westport, Connecticut -- Terex Corp. has completed its tender offer for ASV Inc., a maker of compact rubber track loader and accessories, obtaining 98 percent of the firm's common stock for about $488 million (Euro 323 million).
The firm's subsidiary, Terex Minnesota Inc., now will acquire the 3 million shares not tendered via a merger, for $18 a share. The ASV common stock will no longer be sold on NASDAQ after the merger's completion.
The companies announced the sale in January.
From Rubber and Plastics News (A Crain publication)