Caterpillar / Bucyrus
Caterpillar Inc. is digging into the market for surface and underground mining equipment with its proposed $8.6 billion purchase of Bucyrus International, Inc. Caterpillar, a heavy equipment manufacturer, announced on November 15 that it had agreed to pay $92 in cash per share for Bucyrus, a 32 percent premium to the target’s November 12 closing price. Caterpillar will also assume $1 billion in Bucyrus debt.
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