Bryan Cave Represents Terex in $1.3 Billion Public Tender Offer for Demag Cranes AG
May 5, 2011
Bryan Cave is representing Terex Corporation, a Westport, Connecticut-based international manufacturer of construction machinery and equipment, in connection with its tender offer for all of the stock of Demag Cranes AG, a German company. Bryan Cave is handling the financing of the proposed acquisition as well as antitrust and other regulatory aspects of the transaction. Freshfields Bruckaus Deringer is representing Terex on the offer and German law issues.
Terex’s offer of €41.75 per share is a 41 percent premium above Demag’s share price immediately prior to the making of the offer, bringing the total bid to approximately €884 million or $1.3 billion. If successful, the combined entities would yield a projected revenue of $5.8 billion and more than 22,000 employees worldwide.
The Bryan Cave Terex finance team is led by Partner Jeffrey S. Chavkin
along with Partner J. Christopher Eagan
and Counsel Gretchen von Dwingelo
. The regulatory and antitrust aspects of the transaction are being handled by Partners Rebecca Nelson
and Anita Esslinger
and Counsel Danielle Mangogna
. They will work in conjunction with corporate partners at Freshfields Bruckhaus Deringer. The firm is long-standing counsel to Terex, having recently advised it on its $1.3 billion sale of its mining equipment business to Bucyrus International. Demag Cranes AG (XTRA: D9C) is a leading German solutions provider for cranes and port technology.