Terex (TEX) to buy Dover refuse truck business for $2 billion

Terex Corp. has agreed to acquire a refuse truck manufacturing business from Dover Corp. in a transaction valued at $2 billion in cash.

Terex plans to form a new segment by combining its existing utility businesses with Dover’s Environmental Solutions Group, a statement said Monday. The deal, which closes in the second half of 2024, is expected to be accretive to Terex’s revenue growth, free cash flow and earnings.