Wednesday, June 1, 2011

Demag rejects $1.3 bil offer from Terex

Germany's Demag Cranes rejected a $1.3 billion bid from port and related heavy industrial equipment manufacturer Terex this week, saying the offer was too low.

Westport, Conn-based Terex has stated the two companies combined could create "the leading worldwide player in port equipment," according to a report in the Wall Street Journal.

Germany is reportedly Terex's second-biggest market and the company acquired Demag Mobil Cranes in 2002, the former sister company of Demag.

It has been reported that Terex would also seek to beef up its market share in emerging countries like China.

For the full WSJ report: dealbook.nytimes.com

 

 

More Newswire stories

Wal-Mart leads corporate greening movement

Alibaba to launch logistics portal

Cargotec to open "global competence center" for container terminal development

Are you ready for "Cargo-Cycles?" The EU might be

 



Click to browse past stories on these topics:

Logistics

Ports & Infrastructure

Economic Outlook

Environmental Impact

Technology