ZLIOY ZoomLion Heavy Industry Science and Technology Co Ltd (PK)

HONG KONG—Zoomlion Heavy Industry Science & Technology Co. said it had decided to end talks over a proposed acquisition of U.S. construction-crane maker Terex Corp.

The Chinese construction-machinery company said Friday in a statement that despite negotiations between the two companies, "no agreement can be reached on the crucial terms."

Zoomlion, which revealed its interest in Terex in January, raised its bid for the U.S. company in March to $31 a share, or $3.4 billion.

The Hong Kong-listed company said it would continue to seek strategic opportunities for its long-term development, and further procure its strategic transformation and industrial upgrading.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

May 27, 2016 07:45 ET (11:45 GMT)

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