Columbus McKinnon receives approval for STAHL CraneSystems acquisition
Columbus McKinnon Corporation announced that it has received approval from the German Bundeskartellamt regarding Columbus McKinnon’s acquisition of Konecranes’ STAHL CraneSystems (“STAHL”) business. This approval was the final condition for closing. With the European Commission’s approval late in December 2016, the closing of Konecranes’ acquisition of Terex Corporation’s Material Handling and Port Solutions on January 4, 2017, and today’s approval from the German Bundeskartellamt, there are no additional contingencies on the closing of the Company’s acquisition of STAHL. The acquisition is now expected to close on or about January 31, 2017.
