Skip to content
View in the app

A better way to browse. Learn more.

ASEAN NOW

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

Caterpillar to buy mining-equipment manufacturer Bucyrus for $8.6 billion

Featured Replies

Caterpillar to buy mining-equipment manufacturer Bucyrus for $8.6 billion

2010-11-15 19:53:54 GMT+7 (ICT)

NEW YORK (BNO NEWS) -- Caterpillar Inc. on Monday said it inked a merger agreement to buy mining equipment maker Bucyrus International Inc. for $8.6 billion, including debt.

The company said in a statement that Bucyrus shareholders will receive $92 a share in cash, or $7.6 billion. The transaction represents an implied premium of 32 percent to Bucyrus' share price as of Friday.

Caterpillar will fund the acquisition through a combination of cash from the balance sheet, debt and up to $2 billion in equity and the transaction is expected to close in mid-2011.

"For several years, mining customers have been asking us to expand our range of products and services to better serve their increasingly complex requirements," said Caterpillar Chairman and CEO Doug Oberhelman. "This announcement says to those customers, we heard you loud and clear."

Caterpillar intends to locate its mining business headquarters in South Milwaukee, Wisconsin, where Bucyrus headquarters is currently located.

tvn.png

-- © BNO News All rights reserved 2010-11-15

Create an account or sign in to comment

Recently Browsing 0

  • No registered users viewing this page.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.