Demag rejects Terex bid

In support of the decision the Boards state that the offered price of is inadequate and this view is supported by Deutsche Bank AG and Rothschild GmbH. The company further states that given the positive economic outlook and its future strategic positioning, it anticipates “sustained and profitable growth in the years ahead.”

Indeed, Demag forecasts current financial year revenue of around EUR 1.06bn against a target of EUR 1.02bn, rising to EUR 1.3bn in financial year 2012/2013 – exceeding the record levels of financial year 2007/2008.

Demag also has plans for new emerging market products that are expected to deliver another sharp jump in revenue in financial year 2014/2015 to approx. EUR 1.7bn.