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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
05/20/201516:55:11Statement 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
04/29/201517:12:00Terex Announces First Quarter 2015 Results

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