Deals
Terex to Buy Demag for $1.4 Billion After Sweetening Offer
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Terex Corp., the maker of Powerscreen rock crushers, agreed to buy Demag Cranes AG for about 963 million euros ($1.4 billion) after raising its offer to win over management of the German company.
Terex is offering 45.50 euros a share, up from a previous bid of 41.75 euros, Dusseldorf, Germany-based Demag said today in a statement. The price is 25 percent higher than Demag’s close on April 29, the last day of trading before the Westport, Connecticut-based company’s first proposal.