Terex Industrial gets debt commitment for purchase of Demag Cranes

By Sara Rosenberg

New York, May 2 - Terex Industrial Holding AG has received a debt financing commitment to help fund its tender offer for Demag Cranes AG, according to a news release.

Under the offer, Terex is offering to buy Demag for €41.75 per share, or €884 million.

Other funds for the transaction will come from existing cash.

Terex Industrial Holding is the German subsidiary of Terex Corp., a Westport, Conn.-based diversified global manufacturer. Demag is a Dusseldorf, Germany-based provider of industrial cranes, crane components, harbor cranes and port automation technology.

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