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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; [email protected]

Stock News for Terex (TEX)
DateTimeHeadline
01/12/201712:14:59Statement of Changes in Beneficial Ownership (4)
01/10/201712:53:41Statement of Changes in Beneficial Ownership (4)
01/10/201712:53:16Statement of Changes in Beneficial Ownership (4)
01/10/201712:51:58Statement of Changes in Beneficial Ownership (4)
01/10/201712:49:45Statement of Changes in Beneficial Ownership (4)
01/10/201712:45:46Statement of Changes in Beneficial Ownership (4)
01/10/201706:05:14Current Report Filing (8-k)
01/04/201717:56:00Terex Corp. Announces $300 Million Partial Redemption of 6% Senior...
01/04/201714:18:00Terex Completes the Sale of Its Material Handling and Port Solutions...
01/03/201717:07:55Amended Statement of Beneficial Ownership (sc 13d/a)
12/30/201611:11:31Current Report Filing (8-k)
12/22/201613:52:39Statement of Changes in Beneficial Ownership (4)
12/19/201616:30:05Statement of Changes in Beneficial Ownership (4)
12/15/201618:02:50Statement of Changes in Beneficial Ownership (4)
12/13/201611:55:53Current Report Filing (8-k)
12/06/201616:00:25Statement of Changes in Beneficial Ownership (4)
12/06/201615:59:59Statement of Changes in Beneficial Ownership (4)
12/06/201615:59:04Statement of Changes in Beneficial Ownership (4)
12/06/201615:58:10Statement of Changes in Beneficial Ownership (4)
12/06/201615:57:16Statement of Changes in Beneficial Ownership (4)

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