16.06.2011 – 07:40

Demag Cranes AG

EANS-Adhoc: Demag Cranes AG
Conclusion of a Business Combination Agreement with Terex
Increase of Offer Price

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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Conclusion of a Business Combination Agreement with Terex / Increase of Offer
Price

16.06.2011

Düsseldorf, 16 June 2011: Terex Industrial Holding AG, Düsseldorf, Germany, an
indirect subsidiary of Terex Corporation, Westport, USA (together "Terex") has
undertaken vis-à-vis Demag Cranes AG, under certain conditions, to substantially
increase the offer price of its voluntary public tender offer submitted to the
shareholders of Demag Cranes AG on 19 May 2011. The envisaged increase in the
offer price from Euro 41.75 to Euro 45.50 per share is part of a "Business
Combination Agreement" signed today by Terex and Demag Cranes after the approval
by their relevant boards. The agreement ensures broad operational and strategic
autonomy to Demag Cranes even after Terex has acquired a majority interest in
the company. Moreover, the agreement includes detailed commitments for the
period after a possible integration of Demag Cranes into Terex Group. A complete
evaluation of the improved offer terms will be presented by the Management Board
and Supervisory Board of Demag Cranes AG in a supplementary statement pursuant
to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG)
presumably until 22 June 2011. Pending this opinion, however, the Management
Board of Demag Cranes AG is confident based on today's Business Combination
Agreement that it will in total be able to recommend that the company's
shareholders accept the improved offer.

The Business Combination Agreement will be published on the company's website
at:
http://www.demagcranes-ag.de/en/Investor_Relations/Tender_Offer/index.jsp
http://www.demagcranes-ag.de/de/Investor_Relations/Uebernahmeangebot/index.jsp


Further inquiry note:
Susanne Tengler
Telefon: +49(0)211 7102-1218
E-Mail:  Susanne.Tengler@demagcranes-ag.com

end of announcement                               euro adhoc 
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issuer:      Demag Cranes AG
             Forststrasse 16
             D-40597 Düsseldorf
phone:       +49(0211) 7102 1218
FAX:         +49(0211) 7102 1215
mail:         ir@demagcranes-ag.com
WWW:         http://www.demagcranes-ag.com
sector:      Machine Manufacturing
ISIN:        DE000DCAG010
indexes:     MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, München 
language: English