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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
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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