China continues to grab up U.S. companies, helped in large part by financing from the country’s centrally-controlled banks. After the close of trading Wednesday it looks like they are well on their way to get another one. Terex Corporation (NYSE: TEX) said it will move forward with negotiations after it received a revised $31/share cash offer from China-based Zoomlion.
Over the past six years, state-owned Bank of China said it has extended $56.3 billion worth of loans to fund 188 overseas acquisitions.
Zoomlion is said to be working with China Development Bank and the Export-Import Bank of China, although they all fall under the same umbrella – the Chinese central government.
Also on watch: China’s Anbang Insurance Group has recently entered into a bidding war with Marriott International (NYSE: MAR) for Starwood Hotels (NYSE: HOT).