Zoomlion offers $3.2 billion for US heavy machinery maker

China's Zoomlion Heavy Industry Science & Technology Co confirmed on Wednesday an unsolicited takeover bid for Terex Corp, the US crane and construction machinery maker.

The deal will be vital to Zoomlion's transformation and the implementation of the company's global strategy, and it will help increase Zoomlion's revenue and profits.

According to a Terex statement, Zoomlion has offered $30 per share for the company, valuing it at $3.2 billion.