* Terex offers 41.75 euros per share for Demag Cranes
* Offer period runs from May 19 to June 30
* Price is premium to pre-speculation, discount to Wednesday
* Shares up 0.4 percent
(Adds details, background)
FRANKFURT, May 19 U.S. construction machinery
maker Terex Corp (TEX.N) launched its hostile $1.31 billion bid
for Germany's Demag Cranes D9CGn.DE.
The company said on Thursday Demag Cranes shareholders would
have time until June 30 to accept its 41.75 euro-per-share offer
Terex this month took its offer directly to shareholders
after talks with Demag failed to secure a deal.
The offer represents a 41 percent premium to Demag's closing
price on Oct. 6, 2010, before speculation of a possible offer
emerged, but was 10 percent below Wednesday's closing price.
Demag cranes traded 0.4 pct higher at 46.81 euros by 0707
GMT on Thursday.
(Reporting by Maria Sheahan)