Market Has Voted on Terex Offer, Demag CFO Says

The market has already voted on the offer Terex has made for German crane manufacturer Demag Cranes said Demag chief financial officer Rainer Beaujean this week, Reuters reported. Demag Cranes shares are currently trading at €46.78, a 12-percent increase compared with the offer Terex made of €41.75, which valued Demag at about $1.3 billion.

Demag CFO Rainer Beaujean, speaking at a conference in Frankfurt this week said capital markets are always right, although he would not comment specifically on the Terex offer.

The Reuters report quoted unnamed sources close to Terex as saying the Westport, Conn.-based company would publish the offer documents this week, although Terex has not commented on that assertion. Terex did say Monday that it will not enter a bidding war for Demag because it believes its current offer is fair.

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