Crane maker Terex will acquire Demag Cranes for about €963 million, Bloomberg reports. Terex raised its offer to €45.50 per share from its previous offer of €41.75 a share.
Demag’s shareholder Cevian Capital and management had previously rejected the offer on the grounds of it being too low. As per the agreement, Terex will give Demag broad operational and strategic autonomy after the acquisition.
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