On August 11th the Finnish crane and lifting company Konecranes announced an all-stock merger with the Connecticut based heavy equipment company Terex corporation. The new company will be based in Finland and be an industry leader with $10bn in annual revenues and a combined market value of $5.7bn. According to Financial Times the new company will be able to take advantage of Finland’s 20 per cent corporate tax rate — rather than the 35 per cent rate for US companies.

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