Terex announces that it has completed the acquisition of A.S.V. by means of a short-term merger under Minnesota law. ASV, a manufacturer and seller of rubber track machines and related components and accessories is now a wholly-owned subsidiary of Terex.
“We are extremely enthusiastic that ASV and its team members are now part of the Terex Construction family,” says Robert Isaman, president of Terex Construction. “With ASV as a proven leader in compact track loader technology combining the global reach of Terex, we see a real opportunity for expanding ASV product sales.”
In this merger each outstanding share of common stock (par value $0.01 per share) of ASV not tendered in the tender offer was converted into the right to receive $18 in cash per share, without interest.