Demag Cranes' (D9CGn.DE) second-biggest investor, UK hedge fund Centaurus Capital, is calling on the German crane maker to stop resisting merger possibilities, the Financial Times said on Tuesday. The hedge fund sent Demag's board a letter last week, urging Demag to "immediately" assess merging with either Finnish peer Konecranes (KCR1V.HE) or another potential partner, the newspaper reported. Centaurus, which said it held a more than 5 percent stake in Demag, demanded the company form an independent strategic committee to examine joining forces with Kone -- a move it said had a "compelling logic", according to the paper. The Financial Times cited Demag as saying it had "reached a unanimous decision with the supervisory board that we do not see any merit in the proposed discussions".
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