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Demag Board Set To Reject Terex Offer Soon - Sources

By Eyk Henning and Nico Schmidt Of DOW JONES NEWSWIRES FRANKFURT -(Dow Jones)- The board of German crane maker Demag Cranes AG (D9C.XE) is expected to reject the unsolicited takeover bid worth EUR884 million from U.S. construction machinery maker Terex Corp. (TEX) as early as Tuesday, two people familiar with the matter told Dow Jones Newswires Monday. The two people said the board's view that the offer is too low is backed by a fairness opinion provided by investment banks on behalf of the Duesseldorf-based company. One person noted that the offer doesn't reflect the real value of the company and added that Demag Cranes could revise its full-year outlook as business has picked up in recent weeks. It remains uncertain, however, if Terex would consider raising the EUR41.75 a share offer after Chief Executive Ronald DeFeo was quoted in a recent media interview as saying that he would "rather not have Demag (if it means) having to pay too much." Demag's management isn't entirely opposed to a takeover. The former management in 2008 and 2009 approached private-equity firms to suggest a takeover, but talks collapsed, another person said, confirming a report from Financial Times Deutschland Monday. -By Eyk Henning and Nico Schmidt, Dow Jones Newswires; +49 (0)69 29725 108; eyk.henning@dowjones.com

Stock News for Terex (TEX)
DateTimeHeadline
05/26/201514:57:24Statement of Changes in Beneficial Ownership (4)
05/20/201516:55:11Statement of Changes in Beneficial Ownership (4)
05/20/201516:54:21Statement of Changes in Beneficial Ownership (4)
05/20/201516:53:53Statement of Changes in Beneficial Ownership (4)
05/20/201516:53:53Statement of Changes in Beneficial Ownership (4)
05/20/201516:52:09Statement of Changes in Beneficial Ownership (4)
05/20/201516:51:42Statement of Changes in Beneficial Ownership (4)
05/19/201517:30:06Current Report Filing (8-k)
05/15/201513:28:00Terex Announces Quarterly Dividend
05/07/201516:58:30Statement of Changes in Beneficial Ownership (4)
05/07/201516:58:03Statement of Changes in Beneficial Ownership (4)
05/07/201516:56:47Statement of Changes in Beneficial Ownership (4)
05/07/201516:56:20Statement of Changes in Beneficial Ownership (4)
05/07/201516:55:53Statement of Changes in Beneficial Ownership (4)
05/07/201516:55:26Statement of Changes in Beneficial Ownership (4)
05/05/201506:01:40Current Report Filing (8-k)
05/04/201517:28:28Statement of Changes in Beneficial Ownership (4)
04/30/201512:50:23Why Terex Corporation (TEX) Stock Fell 10% Following an Earnings...
04/30/201511:43:12Quarterly Report (10-q)
04/29/201518:46:33Terex Corporation Posts Loss, Reaffirms Full-Year Outlook

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