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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Bucyrus International, Inc. (MM) | NASDAQ:BUCY | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 92.00 | 0 | 01:00:00 |
From Jun 2019 to Jun 2024
DOW JONES NEWSWIRES
The U.S. Department of Justice gave the go-ahead for Caterpillar Inc.'s (CAT) largest acquisition ever--a $7.6 billion takeover of Bucyrus International Inc. (BUCY).
European Union regulators had already cleared the deal earlier this month.
Friday, Caterpillar Chairman and Chief Executive Doug Oberhelman said the heavy-equipment giant was "very pleased" by the approval.
"Since we announced our plan to acquire Bucyrus last November, we have continued to hear from our customers that this complementary expansion of our mining product range is what they have been looking for from Caterpillar," he said.
The company expects the deal to close in the middle of the year.
The combination comes as Caterpillar's operating performance gains steam, with construction and mining companies replenishing equipment in the past year after cutting back in 2009.
Caterpillar shares were down 0.4% at $103.95 after hours, and Bucyrus's weren't active.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com
1 Year Bucyrus Chart |
1 Month Bucyrus Chart |
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