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Terex Corporation (TEX)

  • Dec. 9, 2013, 7:11 AM
  • Oct. 23, 2012, 10:09 AM
    Over 100 Demag Cranes shareholders are suing Terex (TEX) for a payout of up to €200M following its $1.4B acquisition of the German company, Reuters reports. Under German law, companies that acquire 75% or more of another firm must offer compensation to remaining shareholders based on a company valuation, not the original bid price. Terex has offered €45.52/share but the investors want over €100.
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  • Oct. 13, 2012, 10:00 AM
    Five years after record fundraising for P-E firms, the shops still sit on much of that cash and are coming up against the time when they must "use-it-or-lose-it." As most would rather use it, Barron's screens for attractive targets - market cap of $1B-$10B, an Enterprise Value/EBITDA ratio below 10, and annual cash flow of at least 5% of stock market value. The winners: Guess (GES), Terex (TEX), Charles River Labs (CRL), and Big Lots (BIG).
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  • Oct. 10, 2011, 10:27 AM
    Industrial machinery maker Terex (TEX +7%)  surges after stating it will acquire a controlling interest in Ritz do Brazil, a manufacturer of equipment for constructing and maintaining power lines. In June, Terex struck a deal to acquire German crane manufacturer Demag Cranes.
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  • Jun. 16, 2011, 6:52 AM
    Demag Cranes (DMGCF.PK) and Terex (TEX) finally get on the same team, with Demag's board recommending shareholders accept a sweetened takeover offer of €45.50/share. Demag had previously offered €41.75/share. In Europe, Demag +2.3% to €45.33.
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  • May 31, 2011, 8:36 AM
    Demag Cranes (DMGCF.PK) rejects (.pdf) Terex's (TEX) $1.3B offer as too cheap and because Terex has failed to say what its plans for Demag Cranes are. Demag's shares are €45.75 ($65.84), well above the offer price of €41.75, although Terex has no plans to increase its bid. (previous)
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  • May 19, 2011, 5:44 AM
    Terex (TEX) launches a $1.3B tender offer for Demag Cranes (DMGCF.PK), conditional on at least 51% acceptance. The offer price of €41.75/share is unchanged from Terex's earlier bid, which Demag's largest shareholder had called 'completely inadequate.'
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  • May 9, 2011, 7:37 AM
    Terex's (TEX) €884M ($1.31B) bid for Demag Cranes (DMGCF.PK) suffers a blow after Cevian Capital, the German company's largest shareholder, describes the €41.75/share offer as 'completely inadequate.' 
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  • May 2, 2011, 7:32 AM
    Crane maker Terex (TEX) bids €884M ($1.31B) for Germany's Demag Cranes (DMGCF.PK) after the latter turns its back on talks. Analysts say they expect Terex will have to raise its offer to clinch the deal, with one saying that it may also face a counterbid from Finland's Konecranes (KNCRF.PK). (PR)
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Company Description
Terex Corp is a lifting & material handling solutions company. It is engaged in delivering reliable, customer-driven solutions for commercial applications including construction, infrastructure, quarrying, mining & manufacturing, among others.