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Terex, Demag Sign Agreement Following Terex's Increased Bid

FRANKFURT -(Dow Jones)- German crane maker Demag Cranes AG (D9C.XE) Thursday said Terex Corp. (TEX) has agreed to increase its takeover offer to EUR45.50 per share from EUR41.75 per share, as part of a business agreement that ensures broad operational and strategic autonomy to Demag Cranes even after Terex acquires a majority interest in it. Demag's executive board said it is confident it will be able to recommend that the company's shareholders accept the improved offer, pending a formal evaluation which Demag's executive and supervisory boards will present by June 22. The deal between Terex Industrial Holding AG, a Terex subsidiary, and Demag includes "detailed commitments for the period after a possible integration of Demag Cranes into Terex Group," Demag said in a statement. -By Frankfurt Bureau, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@dowjones.com

Stock News for Terex (TEX)
DateTimeHeadline
08/23/201612:27:09Statement of Changes in Beneficial Ownership (4)
08/23/201612:26:33Statement of Changes in Beneficial Ownership (4)
08/18/201613:19:57Statement of Changes in Beneficial Ownership (4)
08/10/201617:58:15Statement of Changes in Beneficial Ownership (4)
08/10/201617:57:45Statement of Changes in Beneficial Ownership (4)
08/10/201617:56:30Statement of Changes in Beneficial Ownership (4)
08/10/201617:55:35Statement of Changes in Beneficial Ownership (4)
08/08/201614:48:00Proposed Sale of Terex MHPS Business to Konecranes Receives European...
08/05/201613:24:28Statement of Changes in Beneficial Ownership (4)
08/05/201613:23:30Statement of Changes in Beneficial Ownership (4)
08/05/201613:22:08Statement of Changes in Beneficial Ownership (4)
08/05/201613:21:39Statement of Changes in Beneficial Ownership (4)
08/05/201613:20:16Statement of Changes in Beneficial Ownership (4)
08/05/201613:17:48Statement of Changes in Beneficial Ownership (4)
08/05/201606:03:35Quarterly Report (10-q)
08/02/201616:37:39Current Report Filing (8-k)
08/01/201619:30:00Kennametal to Eliminate 1,000 Jobs, Deepen Cuts in North America...
08/01/201618:22:00Terex Announces Second Quarter 2016 Results
08/01/201617:27:21Current Report Filing (8-k)
07/28/201616:10:00Marcato Discloses 5.1% Stake in Crane Maker Terex

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