Terex Corp., a U.S. maker of cranes and construction machinery, agreed to combine with Finnish competitor Konecranes Oyj to create a crane and materials- handling supplier with a combined $10 billion in sales and greater global reach.

Terex stockholders will receive 0.8 of a Konecranes share for each of their shares, the companies said in statements Tuesday. That values Terex stock at about $30.19, based on Monday’s closing price for Konecranes, or 38 percent above where Terex shares finished the day.

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