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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
04/29/201615:06:46Amended Current Report Filing (8-k/a)
04/28/201617:27:29Current Report Filing (8-k)
04/27/201617:32:05Quarterly Report (10-q)
04/27/201608:44:30Filing of Certain Prospectuses and Communications in Connection...
04/26/201617:33:00Terex Announces First Quarter 2016 Results
04/26/201616:59:34Current Report Filing (8-k)
04/15/201606:01:39Current Report Filing (8-k)
04/14/201615:03:00Terex Corporation Announces First Quarter 2016 Financial Results...
04/08/201615:54:47Statement of Changes in Beneficial Ownership (4)
04/08/201615:53:33Statement of Changes in Beneficial Ownership (4)
04/08/201615:52:30Statement of Changes in Beneficial Ownership (4)
04/08/201615:51:07Statement of Changes in Beneficial Ownership (4)
04/08/201615:49:00Statement of Changes in Beneficial Ownership (4)
04/07/201614:49:50Additional Proxy Soliciting Materials (definitive) (defa14a)
04/01/201615:22:43Proxy Statement (definitive) (def 14a)
03/24/201613:22:28Filing of Certain Prospectuses and Communications in Connection...
03/23/201616:05:00Terex Corporation to Move Forward with Negotiations With Zoomlion...
03/14/201612:31:32Filing of Certain Prospectuses and Communications in Connection...
03/13/201621:10:00Blackstone Nears Deal to Sell Hotel Portfolio to Anbang
03/11/201616:57:01Statement of Changes in Beneficial Ownership (4)

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