Terex Corp. has offered about $1.3 billion in cash to the shareholders of Dusseldorf, Germany-based Demag Cranes AG and will assume its debt, pension and other obligations for a takeover worth roughly $1.5 billion.The Westport, Conn.-based equipment maker seeks to acquire Demag's line of overhead and shipyard cranes to gain more exposure into the industrial sector and minimize its construction presence. Terex says the deal would smooth out cycles associated with its construction machinery line. The deal would also generate cash quickly. “We are at the beginning of an economic cycle, and certainly nowhere near the end as we see
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.