ADVFN - Advanced Financial Network.
HOME» NYSE » T » TEX Stock Price » TEX Stock News

Terex Share News

 Terex Corp. Stock Price
TEX Stock Price
 Terex Corp. Stock Chart
TEX Stock Chart
 Terex Corp. Stock News
TEX Stock News
 Terex Corp. Company Information
TEX Company Information
 Terex Corp. Stock Trades
TEX Stock Trades

Terex CEO Won't Raise Demag Offer; Calls On Demag To Negotiate

By Bob Tita Of DOW JONES NEWSWIRES Terex Corp. (TEX) Chairman and Chief Executive Ron DeFeo said Monday he has no plans to raise his offer for German crane manufacturer Demag Cranes AG (D9C.XE) and again called on Demag executives to engage in talks with Terex. Terex offered EUR41.75 a share offer for Demag on May 2. DeFeo said Demag executives have yet to respond to the U.S. company's tender offer for Demag shares and have given no indication what Terex would have to pay to acquire Demag. "We don't know exactly why," DeFeo said during a presentation to analysts in New York City. "We want a friendly deal. We think the value of what we put on the table is fair and full. It's in [Demag] shareholders' interest that they engage in a discussion." Demag's stock price has moved well above EUR41.75 since the tender offer was announced, indicating that investors believe the company is worth more than Terex is offering. In trading Monday, Demag closed up 0.64% at EUR47.49. Demag shareholder Cevian Capital said last week Terex's offer was "completely inadequate" and did not reflect the potential value of Demag. DeFeo said Terex won't participate in a bidding war for Demag, noting that Connecticut-based Terex would have difficulty gaining a return on its investment at a higher purchase price. "Our view on price is disciplined because we're return-on-capital driven," he said. Terex manufacturers tower cranes, truck mounted cranes, rock crushing equipment and self-propelled work platforms for working in high places. Terex has been looking to expand into different equipment markets to offset the cyclical slumps in its business lines. Demag makes cranes and hoists used in factories and warehouses, as well as port cranes for maritime shipping. DeFeo said if Terex is unable to obtain Demag, it will re-evaluate options for using its cash, including making smaller acquisitions and the retiring high-yield debt. Terex stock closed Monday's regular trading session down 4% at $30.04 a share. The stock was up 0.60% in after-hours trading at $30.22. -By Bob Tita, Dow Jones Newswires; 312-750-4129; robert.tita@dowjones.com (Neetha Mahadevan and Eyk Henning contributed to this report.)

Stock News for Terex (TEX)
DateTimeHeadline
02/19/201409:51:22U.S. Stocks: Hot Stocks to Watch
12/09/201307:15:35Volvo Construction Equipment to Buy Hauler Business from Terex
11/15/201308:55:37Highbridge Capital Management 3Q 13F: Largest Eliminations
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest Purchases
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest Sales
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest -2-
11/15/201308:39:36Kingdon Capital Management 3Q 13F: Largest Eliminations
11/15/201308:39:34Kingdon Capital Management 3Q 13F: Holdings As Of -2-
11/15/201308:39:33Kingdon Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201308:27:55S.A.C. Capital Advisors LP 3Q 13F: Largest Eliminations
11/15/201308:27:52S.A.C. Capital Advisors LP 3Q 13F: Largest Purchases
11/15/201308:27:52S.A.C. Capital Advisors LP 3Q 13F: Largest Sales
11/15/201308:27:52S.A.C. Capital Advisors LP 3Q 13F: Largest -2-
07/25/201309:01:29U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
06/17/201317:32:20Lowered Terex Outlook Reflects Weakening Global Machinery Market
06/17/201309:19:30U.S. HOT STOCK FUTURES: Hot Stocks to Watch
04/25/201306:52:02For Thursday at 6 a.m.) U.S. HOT STOCK FUTURES: HOT STOCKS TO...
04/15/201305:25:30Scania Gets Engine Supply Deal From Terex
09/27/201211:26:15Germany's Commerzbank Loses 2 High-Profile Investment Bankers
05/25/201217:12:34Fiat Ban On Sales To Iran Seen As Victory In Sanctions Campaign

Terex and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad