They start with a bullet shower, but since both are for all practicall terms immune, it's just a pointless show of explosions and damage to private property, so they decide to be gentlecyborgs and change to a fistfight.
After exchanging some blows, The Terminator pokes both eyes out of Robocop. Robocop tries to find Terminator by sound, but it has a new "silent mode" that allows it to go behind Robocop, give him a robo wedgie. The pain (he still has human male parts) drives him to the ground, where the T finishes him with a bodyslam..