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Demag Says Terex Offer Too Low, Raises FY11 Guidance

FRANKFURT -(Dow Jones)- German crane manufacturer Demag Cranes AG (D9C.XE) said Tuesday it advised shareholders to reject an unsolicited takeover offer by Terex Industrial Holding AG a unit of Terex Corp. (TEX), because it is too low, and raised guidance for the fiscal year ending Sept. 30. MAIN FACTS: -Demag Cranes now sees sales of around EUR1.06 billion in fiscal 2011, up from a previous forecast of EUR1.02 billion to EUR1.05 billion. -It also said the earnings before interest and tax margin will be around 6.4%, above the previous projection of 6.1% to 6.5%. -On May 2, Terex had offered shareholders EUR41.75 per Demag Cranes share, in an unsolicited takeover bid worth up to EUR884 million. -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500

Stock News for Terex (TEX)
DateTimeHeadline
05/27/201608:23:00Terex Announces Talks with Zoomlion Terminated
05/27/201608:00:00China's Zoomlion Abandons Pursuit of U.S. Crane Maker Terex
05/20/201616:13:23Initial Statement of Beneficial Ownership (3)
05/19/201615:36:53Current Report Filing (8-k)
05/18/201613:48:39Current Report Filing (8-k)
05/17/201616:54:56Statement of Changes in Beneficial Ownership (4)
05/17/201616:54:03Statement of Changes in Beneficial Ownership (4)
05/17/201616:53:12Statement of Changes in Beneficial Ownership (4)
05/17/201616:52:19Statement of Changes in Beneficial Ownership (4)
05/17/201616:50:59Statement of Changes in Beneficial Ownership (4)
05/17/201616:49:39Statement of Changes in Beneficial Ownership (4)
05/17/201616:49:11Statement of Changes in Beneficial Ownership (4)
05/16/201603:50:00Konecranes Scraps Planned Merger With Terex
05/16/201602:00:00Terex Announces Sale of Material Handling & Port Solutions Bus...
05/13/201611:37:00Terex Announces Quarterly Dividend
05/06/201617:05:15Statement of Changes in Beneficial Ownership (4)
05/06/201617:03:02Statement of Changes in Beneficial Ownership (4)
05/06/201616:46:12Statement of Changes in Beneficial Ownership (4)
05/06/201616:45:47Statement of Changes in Beneficial Ownership (4)
05/06/201616:44:26Statement of Changes in Beneficial Ownership (4)

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