China's Zoomlion abandons talks with U.S. crane maker Terex

HONG KONG (Reuters) - Zoomlion Heavy Industry Science and Technology Co Ltd <000157.SZ> said on Friday it has terminated stake sale talks with U.S. crane maker Terex Corp , the latest blow to corporate China's growing ambitions to acquire U.S. assets.

The move comes just weeks after Finland's Konecranes agreed to buy Terex Corp's crane business for ports and factories for 1.1 billion euros ($1.3 billion).

That deal left the door open for Chinese rival Zoomlion, which had sweetened its offer to buy the U.S. company in March to $3.4 billion, to buy the rest.

"No agreement can be reached on the crucial terms," Zoomlion said in a statement to the Hong Kong stock exchange.

In April, China's Anbang Insurance Group Co said it had abandoned its $14 billion bid for Starwood Hotels & Resorts Worldwide Inc , paving the way for Marriott International Inc to buy the Sheraton and Westin hotels operator.

(Reporting By Anne Marie Roantree and Bengaluru Newsroom; Editing by Edwina Gibbs)