19.05.2011

Terex offer for Demag expected today

Rainer Beaujean, chief financial officer of Demag cranes said yesterday that the market had already rejected the current Terex takeover approach for his company.

Speaking at a conference in Frankfurt, Beaujean said: “the capital markets are always right” and suggested that the fact that Demag shares have remained stable at nearly €47 - in spite of Terex saying that its €41.75 offer was full and fair and that it would not be drawn into a bidding war –was a clear indication.

Demag has refused to comment specifically on the offer and maintained that it will look at it when it is published and then make a recommendation to its shareholders.

There are suggestions that Terex will publish the details of its offer later today, although Terex would neither confirm nor deny that.
See Terex will not enter a bidding war
See Demag dismisses Terex offer
See Terex bids for Demag
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