China Macroeconomics & Academia

Christopher Balding

Macroeconomics

Chinese economic activity appears to be stabilizing in April.  We are not witnessing a pullback from the expansion in the real economy we saw post Chinese New Year in March but nor are we witnessing continued expansion.  Given the explosion in credit, the relative lack of continued expansion should be cause for concern.

Chinese economic activity appears to be stabilizing in April.  We are not witnessing a pullback from the expansion in the real economy we saw post Chinese New Year in March but nor are we witnessing continued expansion.  Given the explosion in credit, the relative lack of continued expansion should be cause for concern.

Chinese Flash Numbers Fail to Build on Post-New Year Bounce

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

Event-Driven

Chinese construction machinery manufacturer Zoomlion Co. Ltd. might not be able to finance its proposed $30 per share all-cash offer for U.S. rival Terex Corp., a source familiar with the industry told <a href="http://ctfn.news" target="_blank">CTFN</a>.

Chinese construction machinery manufacturer Zoomlion Co. Ltd. might not be able to finance its proposed $30 per share all-cash offer for U.S. rival Terex Corp., a source familiar with the industry told CTFN.

Zoomlion's Financing for Terex Bid Questioned

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

<ul><li class="p1">Proposed Terex Takeover Sounds Attractive in Theory, but the Price Tag Is Too High.</li><li class="p1">While this deal may theoretically help Zoomlion gain access to much-needed advanced crane technology and access to global markets, we consider the price tag to be too high, and believe that it will further stretch Zoomlion’s already-weak balance sheet.</li></ul>Analysts: John Hu &amp; Ross MacMillan

Proposed Terex Takeover Sounds Attractive in Theory, but the Price Tag Is Too High.While this deal may theoretically help Zoomlion gain access to much-needed advanced crane technology and access to global markets, we consider the price tag to be too high, and believe that it will further stretch Zoomlion’s already-weak balance sheet.Analysts: John Hu &amp; Ross MacMillan

With Its Boom Days Behind It, Cash Flow Is Key for Zoomlion.

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<h2>Earlier This Morning</h2><blockquote>
Zoomlion put out a press release today (17 Feb 2016) on the Hong Kong Exchange: The Company wishes to announce that the Company would continue to advance the Proposed Transaction of acquiring Terex Corporation (NYSE: TEX), at US$30.00 per share in cash. The Company made a non-binding offer on Dec. 4, 2015, representing a 41% premium over the last closing price of Terex prior to the offer (US$21.22). The Company has prepared a concrete financing plan for this Proposed Transaction…
</blockquote>

Earlier This Morning
Zoomlion put out a press release today (17 Feb 2016) on the Hong Kong Exchange:  The Company wishes to announce that the Company would continue to advance the Proposed Transaction of acquiring Terex Corporation (NYSE: TEX), at US$30.00 per share in cash. The Company made a non-binding offer on Dec. 4, 2015, representing a 41% premium over the last closing price of Terex prior to the offer (US$21.22).  The Company has prepared a concrete financing plan for this Proposed Transaction…


Terex Earnings Call - Zoomlion Is on the Prowl

Three lawyers speaking with <a href="http://ctfn.news" target="_blank">CTFN</a> warned that outbound financing for deal involving acquirers from China includes a degree of risk atypical in the West.  Since the state owns significant stakes in its largest banks, the country can delay or refuse loans even after companies make agreements, these people said.

Three lawyers speaking with CTFN warned that outbound financing for deal involving acquirers from China includes a degree of risk atypical in the West.  Since the state owns significant stakes in its largest banks, the country can delay or refuse loans even after companies make agreements, these people said.

Financing for Chinese Outbound M&A Carries Risk

China

Zoomlion Heavy Industry Science and Technology Co., Ltd.manufactures and markets construction machinery.  The Company's products include concrete machinery, cranes, road machinery, drilling equipment, and other heavy construction equipment.  Zoomlion also produces environmental machinery and satellite navigation products.

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Zoomlion Heavy Industry S A (000157 CH)

Chinese Flash Numbers Fail to Build on Post-New Year Bounce

Chinese economic activity appears to be stabilizing in April. We are not witnessing a pullback from the expansion in the real economy we saw post...

Christopher Balding

Zoomlion's Financing for Terex Bid Questioned

Chinese construction machinery manufacturer Zoomlion Co. Ltd. might not be able to finance its proposed $30 per share all-cash offer for U.S. rival...

CTFN

With Its Boom Days Behind It, Cash Flow Is Key for Zoomlion.

Proposed Terex Takeover Sounds Attractive in Theory, but the Price Tag Is Too High. While this deal may theoretically help Zoomlion gain access to...

Morningstar, Inc.

Terex Earnings Call - Zoomlion Is on the Prowl

Earlier This Morning Zoomlion put out a press release today (17 Feb 2016) on the Hong Kong Exchange:The Company wishes to announce that the Company...

Crispin Francis

Financing for Chinese Outbound M&A Carries Risk

Three lawyers speaking with CTFN warned that outbound financing for deal involving acquirers from China includes a degree of risk atypical in the...

CTFN

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)