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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; neetha.mahadevan@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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