EU Clears Acquisition Of Demag Cranes By Terex Corp

Date : 08/05/2011 @ 11:54AM
Source : Dow Jones News
Stock : Terex Corp. (TEX)
Quote : 45.84  0.09 (0.20%) @ 4:02PM

EU Clears Acquisition Of Demag Cranes By Terex Corp

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The European Commission Friday cleared the proposed acquisition of German manufacturer Demag Cranes AG (D9C.XE) by Terex Corp (TEX).

The Commission said it examined the impact of the transaction on the supply of mobile harbour cranes, which is the only business area where the parties' activities overlap.

The proposed purchase by Connecticut-based Terex, which makes construction equipment, "does not exert a significant competitive constraint on competitors," the commission said.

-By Riva Froymovich, Dow Jones Newswires; +32 2 741 1489; riva.froymovich@dowjones.com

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