"REV Group and Terex Corporation Announce $9 Billion Stock and Cash Merger"

"REV Group is merging with Terex Corporation in a stock and cash deal valued at $9 billion. REV Group shareholders will receive shares in the combined company and cash, owning 42% of the new entity, while Terex shareholders will own 58%. The merged company will trade on the NYSE under the symbol TEX, with the transaction expected to close in the first half of 2026, pending regulatory approvals. REV Group specializes in specialty and recreational vehicles, while Terex manufactures industrial equipment globally. Davis Polk is advising REV Group on the merger, with a team of experts providing legal, tax, finance, and antitrust guidance."

Davis Polk advised REV Group on its stock and cash merger with Terex Corporation. The transaction involves REV Group shareholders receiving 0.9809 of a share of the combined company and $8.71 in cash for each REV Group share, representing an implied enterprise value of $9 billion. Upon closing, REV Group shareholders will own approximately 42% of the combined company, while Terex shareholders will own approximately 58% on a pro forma basis. The combined company will continue to trade on the NYSE under the symbol TEX, with the transaction expected to close in the first half of 2026, subject to regulatory clearance and customary closing conditions. The Davis Polk team advising REV Group includes corporate partners James P. Dougherty, Evan Rosen, and Derek Dostal, and counsel Malik M. Khalil. Partner Kyoko Takahashi Lin provided executive compensation advice, partner Kara L. Mungovan provided tax advice, and partner Nikolaus Caro provided finance advice. Antitrust and competition advice was provided by partners Howard Shelanski and Matthew Yeowart. Environmental advice was provided by counsel Michael Comstock. The Davis Polk team is based in the New York, Washington DC, and London offices.

"REV Group and Terex Corporation Announce $9 Billion Stock and Cash Merger"

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