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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
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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