Palfinger AG, the world’s biggest maker of truck-mounted cranes, said there’s no imminent risk of a global economic crisis as severe as two years ago because industries aren’t operating at the same “overheated” rate.
Terex Corp., a U.S. maker of construction equipment, said it may cut its stake in a “struggling” Chinese truck-crane joint venture or look for alternative partners after sales were lower than expected.
Terex Corp.’s offer for Demag Cranes AG that values the German maker of harbor cranes at about at 883.9 million euros ($1.27 billion) is “completely inadequate” and doesn’t reflect Demag’s value, its largest shareholder said.
Demag Cranes AG rose the most in almost two years in Frankfurt trading after the Financial Times Deutschland reported Finnish competitor Konecranes Oyj is considering a takeover of the German maker of harbor cranes.
A takeover of Demag Cranes AG by Terex Corp. or Konecranes Oyj has become less likely as the German company’s stock has risen more than 50 percent since the beginning of September, Financial Times Deutschland said, citing unidentified people in the finance industry.