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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
02/16/201716:30:02Current Report Filing (8-k)
02/15/201702:15:00Terex Corporation Completes Sale of 7.45 Million Shares of Konecranes...
02/14/201714:23:11Amended Statement of Ownership (sc 13g/a)
02/14/201713:58:09Amended Statement of Ownership (sc 13g/a)
02/14/201712:11:00Proposed Placing of up to 9.5% of the Total Shares Outstanding...
02/13/201716:06:04Statement of Ownership (sc 13g)
02/13/201712:20:00Terex Names John D. Sheehan, Chief Financial Officer
02/10/201714:55:40Current Report Filing (8-k)
02/10/201713:46:25Amended Statement of Ownership (sc 13g/a)
02/10/201712:38:55Initial Statement of Beneficial Ownership (3)
02/10/201712:14:18Initial Statement of Beneficial Ownership (3)
02/09/201717:23:00Terex Corporation Announces Fourth Quarter and Year-End 2016...
02/09/201710:38:45Statement of Ownership (sc 13g)
02/07/201716:49:25Statement of Changes in Beneficial Ownership (4)
02/07/201716:48:07Statement of Changes in Beneficial Ownership (4)
02/07/201716:47:15Statement of Changes in Beneficial Ownership (4)
02/07/201716:45:57Statement of Changes in Beneficial Ownership (4)
02/07/201716:45:57Statement of Changes in Beneficial Ownership (4)
02/07/201716:45:06Annual Statement of Changes in Beneficial Ownership (5)
02/07/201715:40:34Current Report Filing (8-k)

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