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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
07/22/201611:53:03Current Report Filing (8-k)
07/22/201609:02:00Terex Corporation Announces Second Quarter 2016 Financial Results...
07/15/201609:46:00Terex Announces Quarterly Dividend
07/12/201612:50:19Statement of Changes in Beneficial Ownership (4)
07/12/201612:49:40Statement of Changes in Beneficial Ownership (4)
07/12/201612:48:02Statement of Changes in Beneficial Ownership (4)
07/12/201612:46:46Statement of Changes in Beneficial Ownership (4)
07/12/201612:42:54Statement of Changes in Beneficial Ownership (4)
06/24/201611:54:50Current Report Filing (8-k)
06/23/201607:40:00What Investors are Making of these Industrial Goods' Stocks?...
06/21/201616:54:08Annual Report of Employee Stock Plans (11-k)
06/20/201622:00:00Yanmar Acquires Terex Corporation's Compact Construction Equipment...
06/20/201621:00:00Terex Announces Sale of German Compact Construction Equipment...
06/17/201613:30:57Statement of Changes in Beneficial Ownership (4)
06/08/201616:31:13Statement of Changes in Beneficial Ownership (4)
06/06/201615:24:16Statement of Changes in Beneficial Ownership (4)
06/06/201615:23:20Statement of Changes in Beneficial Ownership (4)
06/06/201615:22:52Statement of Changes in Beneficial Ownership (4)
06/06/201615:21:57Statement of Changes in Beneficial Ownership (4)
06/06/201615:21:29Statement of Changes in Beneficial Ownership (4)

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