TEREX CORPORATION (NYSE:TEX) Files An 8-K Entry into a Material Definitive Agreement

TEREX CORPORATION (NYSE:TEX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry Into a Material Definitive Agreement.

On February 2, 2017, Marcato Capital Management LP, Marcato International Master Fund, Ltd. (collectively, “Marcato”) and Matthew Hepler, entered into a letter agreement (the “Letter Agreement”) with Terex Corporation (“Terex” or the “Company”). Effective June 12, 2019, Marcato, Mr. Hepler and Terex amended and restated the Letter Agreement ( the “Amended Letter Agreement”).
In connection with the entry into the Amended Letter Agreement, Richard T. McGuire III, Managing Partner of Marcato said, “The recent sales of Terex shares by Marcato are the result of ordinary course capital flows and portfolio rebalancing to manage position concentration. Marcato remains optimistic about the future of the Company and is committed to working with the board and management of Terex to help continue to enhance value for all of the Company’s shareholders.”
to the Amended Letter Agreement, Mr. Hepler will continue to serve as a director of the Company. The foregoing summary of the Amended Letter Agreement is qualified in its entirety by reference to the actual language of the Amended Letter Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
10.1 Letter Agreement among Marcato Capital Management LP, Marcato International Master Fund, Ltd., Matthew Hepler and Terex Corporation, dated June 12, 2019.
TEREX CORP Exhibit
EX-10.1 2 a8k06122019exh10_1ltramndm.htm EXHIBIT 10.1 LETTER AMDED AGR Exhibit June 12,…
To view the full exhibit click here

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About TEREX CORPORATION (NYSE:TEX)

Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries. The AWP segment designs, manufactures, services and markets aerial work platform equipment, telehandlers and light towers. The AWP segment’s products are used by its customers to construct and maintain industrial, commercial and residential buildings and facilities, and for other commercial operations, as well as in a range of infrastructure projects. The Cranes segment’s products are used by its customers for construction and manufacturing facilities, among others. The MP segment’s products are used by its customers in construction, infrastructure and recycling projects.

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