Terex (TEX) Gets EU Antitrust Clearance for Demag Cranes AG
· 10 years ago
Thank you for joining us. I am your host Sara Bryant at CRWE Newswire Stocks to watch. Terex Corporation - symbol TEX - reported that it has received clearance from the European Union to complete its previously announced purchase offer for Demag Cranes AG. With this approval, the final condition of closing has been met, and settlement of the purchase offer is anticipated to occur the week of August 15. Demag Cranes AG will add a new business segment to Terex with world-class products in industrial cranes and hoists, port technology and service. Demag Cranes AG’s business is highly complementary to the existing Terex business, and the combination has compelling industrial logic, with a strong footprint in Europe and emerging markets. Terex Corporation is a diversified global manufacturer operating in four business segments: Aerial Work Platforms, Construction, Cranes, and Materials Processing.