International law firm Freshfields Bruckhaus Deringer is advising Terex Corporation, the US listed manufacturer of industrial machines and equipment, on a voluntary public cash tender offer launched by Terex Industrial Holding AG, an indirect wholly-owned subsidiary of Terex, for the outstanding share capital of Düsseldorf-based Demag Cranes AG, the listed German cranes and port automation technology manufacturer.

Terex is offering €41,75 per share, valuing Demag Cranes at €884 million.

Terex is a global manufacturer operating in several business segments including: aerial work platforms, construction, cranes, and materials processing with 16,300 employees worldwide and net sales of $4.4 billion in 2010. Demag’s business is highly complementary to the existing Terex business, and Germany is Terex’s second-largest market and production base with about 22 percent of Terex’s global headcount based there.

Commenting on the transaction, Düsseldorf-based Freshfields corporate partner Gregor von Bonin said: ‘ At present we see an increasing appetite, especially by foreign strategic investors, for the take-over of German listed corporates. These are complex projects to which we can bring a proven and longstanding track record in advising bidders on public tender offers.’

The Freshfields team advising on the deal comprised corporate partners Gregor von Bonin and Christoph von Bülow as well as corporate associates Tobias Larisch, Natalie Vahsen, Ansgar Schönborn, Christian Kaufmann, and Alexander Eichhorn. It also included Burkhard Richter, Georg Schmittmann, Till Steinvorth (all competition), Yorck Jetter (finance), Thomas Müller-Bonanni (employment), Norbert Schneider (tax), Frank-Erich Hufnagel (IP/IT) as well as US capital markets specialists Mark Strauch, Timothy Knauff and Kyle Miller.