Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Demag Cranes Rejects Shareholder Demand to Seek Merger Partner

Demag Cranes AG, the German maker of harbor cranes that was approached by Finnish competitor Konecranes Oyj last year, said pressure from shareholders to resume talks won’t sway management to reconsider a combination.

The company, based in Dusseldorf, said it received a letter from shareholders urging the board to merge Demag with Konecranes or another potential partner. Among the authors of the letter was Centaurus Capital Ltd., Demag Cranes’s second-largest investor, according to the Financial Times.

“We have received and responded to this letter already and would like to point out that we carefully evaluated preliminary, non-binding indications of interest we received from foreign companies last year,” Demag Cranes spokesman Nikolai Juchem said. “Management and supervisory board unanimously agreed the suggested talks would yield no benefits for the company.”

Helsinki-based Konecreanes said Feb. 3 that it will not pursue its approach of Demag after the target company rebuffed a combination. Konecranes spokesman Michael Wegmueller had no comment on the letter sent by investors.

Centaurus Capital holds 5.06 percent of Demag’s shares, according to data compiled by Bloomberg. The biggest shareholder is Cevian Capital, a Stockholm-based fund led by activist investor Christer Gardell.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.