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Terex Now Holds 72.81% Of Demag Cranes

FRANKFURT -(Dow Jones)- U.S. construction machinery maker Terex Corp (TEX) has now secured 72.81% stake in Demag Cranes (D9C.XE), a mandatory statement from Terex's Germany-based subsidiary Terex Industrial Holding AG said Tuesday. The document also stated that the shareholders have an additional acceptance period of two weeks to take the offer, which is until July 19. On Friday, Terex said it received about 67% of Demag Cranes' shares under its revised tender offer, completing a two-month-long process to acquire the German crane manufacturer. Terex needed 51% of Demag's shares to complete the deal. Terex's original offer of EUR41.75 a share on May 2 was panned by Demag executives and the company's major shareholders as severely undervaluing the company, which later led Terex to raise the offer to EUR45.50. At 0900 GMT shares of Demag Cranes traded +0.1% at EUR45.25. -By Neetha Mahadevan, Dow Jones Newswires; +49 69 2972 5507;

Stock News for Terex (TEX)
05/20/201616:13:23Initial Statement of Beneficial Ownership (3)
05/19/201615:36:53Current Report Filing (8-k)
05/18/201613:48:39Current Report Filing (8-k)
05/17/201616:54:56Statement of Changes in Beneficial Ownership (4)
05/17/201616:54:03Statement of Changes in Beneficial Ownership (4)
05/17/201616:53:12Statement of Changes in Beneficial Ownership (4)
05/17/201616:52:19Statement of Changes in Beneficial Ownership (4)
05/17/201616:50:59Statement of Changes in Beneficial Ownership (4)
05/17/201616:49:39Statement of Changes in Beneficial Ownership (4)
05/17/201616:49:11Statement of Changes in Beneficial Ownership (4)
05/16/201603:50:00Konecranes Scraps Planned Merger With Terex
05/16/201602:00:00Terex Announces Sale of Material Handling & Port Solutions Bus...
05/13/201611:37:00Terex Announces Quarterly Dividend
05/06/201617:05:15Statement of Changes in Beneficial Ownership (4)
05/06/201617:03:02Statement of Changes in Beneficial Ownership (4)
05/06/201616:46:12Statement of Changes in Beneficial Ownership (4)
05/06/201616:45:47Statement of Changes in Beneficial Ownership (4)
05/06/201616:44:26Statement of Changes in Beneficial Ownership (4)
04/29/201615:06:46Amended Current Report Filing (8-k/a)
04/28/201617:27:29Current Report Filing (8-k)

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