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Konecranes Considers Bid for Demag Cranes, FT Deutschland Says

Oct. 6 (Bloomberg) -- Konecranes Oyj of Finland is mulling a takeover bid for Germany’s Demag Cranes AG, the Financial Times Deutschland reported, without saying where it got the information.

The assessment is at an “advanced” stage, the newspaper said in an e-mailed preview of an article to be published tomorrow.

Konecranes has hired advisers to assist with the proposal, and has organized financing, the newspaper said.

Spokesmen for both companies declined to comment, the newspaper added.

To contact the reporter on this story: Jann Bettinga in Frankfurt at jbettinga@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net; Mike Anderson at manderson34@bloomberg.net.

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