Demag Says Terex Offer Too Low, Raises FY11 Guidance

Date : 05/31/2011 @ 8:13AM
Source : Dow Jones News
Stock : Terex Corp. (TEX)
Quote : 45.84  0.09 (0.20%) @ 4:02PM

Demag Says Terex Offer Too Low, Raises FY11 Guidance

Terex (NYSE:TEX)
Historical Stock Chart

5 Years : From Oct 2012 to Oct 2017

Click Here for more Terex Charts.

German crane manufacturer Demag Cranes AG (D9C.XE) said Tuesday it advised shareholders to reject an unsolicited takeover offer by Terex Industrial Holding AG a unit of Terex Corp. (TEX), because it is too low, and raised guidance for the fiscal year ending Sept. 30.

MAIN FACTS:

-Demag Cranes now sees sales of around EUR1.06 billion in fiscal 2011, up from a previous forecast of EUR1.02 billion to EUR1.05 billion.

-It also said the earnings before interest and tax margin will be around 6.4%, above the previous projection of 6.1% to 6.5%.

-On May 2, Terex had offered shareholders EUR41.75 per Demag Cranes share, in an unsolicited takeover bid worth up to EUR884 million.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500 
 

Latest TEX Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.