By Nicholas G. Miller

Equipment manufacturer Terex and specialty-vehicle company REV Group agreed to merge in a stock-and-cash transaction worth $425 million.

Under the terms of the deal, REV Group shareholders will receive 0.9809 of a share of the combined company and $8.71 in cash for each REV share held, the companies said on Thursday. Upon closing, Terex shareholders will own about 58% of the combined company while REV shareholders will own the rest, the companies said.

Terex and REV said the combined company would have an enterprise value of roughly $9 billion based on Tuesday's closing prices, and that the merger would create $75 million in run-rate savings in 2028.

The transaction is expected to close in the first half of next year. After it closes, Terex Chief Executive Simon Meester will serve as chief executive of the combined company, the companies said.

Terex also said Thursday it would exit its aerials segment, and that it is considering a sale or spinoff of the unit.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

Terex and REV Group agreed to merge in a stock-and-cash transaction with an enterprise value of roughly $9 billion. "Terex, REV Group to Merge in $425M Deal," at 7:39 a.m. ET, incorrectly said the transaction was worth $425 million.

(END) Dow Jones Newswires

October 30, 2025 14:27 ET (18:27 GMT)

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