FRANKFURT -(Dow Jones)- Terex Corp. (TEX) holds a share of 81.83% in voting rights of Germany's Demag Cranes AG (D9C.XE) at the end of a prolonged offer period, a statement revealed Thursday. Connecticut-based Terex needed 51% of Demag's shares to complete the deal. By the end of the regular offer period, it had acquired about 73% in the Dusseldorf-based company--which makes cranes and hoists for factories and cargo-loading cranes for ocean ports. Terex's decision to launch a tender offer for Demag's shares followed months of resistance from Demag Cranes. 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. Terex then raised its offer to EUR45.50. The acquisition of Demag is the largest in the construction-equipment manufacturer's history. -By Frankfurt Bureau, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@dowjones.com
