Konecranes redefines its 2015 financial guidance due to transaction costs related to the Terex merger
The respective Boards of Directors of Konecranes Plc and Terex Corporation approved on August 10, 2015, a definitive agreement to combine their businesses in a merger of equals. According to IFRS3, transaction costs are expensed as they are incurred and related services are received. As is customary in a merger of this size, Konecranes expects the transaction costs related to the Terex merger to have a material impact on its operating profit in 2015. So far, Konecranes has incurred transaction costs of approximately EUR 6 million related to the Terex merger and will incur more costs throughout the merger process. Therefore, Konecranes redefines its financial guidance for 2015.
