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Demag Cranes confirms receipt of announcement of public tender offer

Today, Terex Industrial Holding AG, a subsidiary of Terex Corporation, Westport/Connecticut (USA), announced that it is planning to make a cash public tender offer to the shareholders of Demag Cranes AG for all outstanding shares of the company against a payment of EUR 41.75 per share. The Terex announcement was unsolicited. The board will continue to inform the shareholders without delay on all meaningful developments. In accordance with its financial calendar, Demag Cranes AG will publish its results for the second quarter of the financial year 2010/2011 on 4 May 2011.

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