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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
05/26/201514:57:24Statement of Changes in Beneficial Ownership (4)
05/20/201516:55:11Statement of Changes in Beneficial Ownership (4)
05/20/201516:54:21Statement of Changes in Beneficial Ownership (4)
05/20/201516:53:53Statement of Changes in Beneficial Ownership (4)
05/20/201516:53:53Statement of Changes in Beneficial Ownership (4)
05/20/201516:52:09Statement of Changes in Beneficial Ownership (4)
05/20/201516:51:42Statement of Changes in Beneficial Ownership (4)
05/19/201517:30:06Current Report Filing (8-k)
05/15/201513:28:00Terex Announces Quarterly Dividend
05/07/201516:58:30Statement of Changes in Beneficial Ownership (4)
05/07/201516:58:03Statement of Changes in Beneficial Ownership (4)
05/07/201516:56:47Statement of Changes in Beneficial Ownership (4)
05/07/201516:56:20Statement of Changes in Beneficial Ownership (4)
05/07/201516:55:53Statement of Changes in Beneficial Ownership (4)
05/07/201516:55:26Statement of Changes in Beneficial Ownership (4)
05/05/201506:01:40Current Report Filing (8-k)
05/04/201517:28:28Statement of Changes in Beneficial Ownership (4)
04/30/201512:50:23Why Terex Corporation (TEX) Stock Fell 10% Following an Earnings...
04/30/201511:43:12Quarterly Report (10-q)
04/29/201518:46:33Terex Corporation Posts Loss, Reaffirms Full-Year Outlook

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