Caterpillar to acquire Bucyrus for $8.6 Billion

Wednesday, 17 November 2010, 06:46 IST
Printer Print Email Email
New York: Caterpillar, global manufacturer of construction and mining equipment, has said it plans to buy Bucyrus for about $8.6 billion to expand its base in the mining industry. Caterpillar Inc said in a statement that it has entered into an agreement with Bucyrus International, under which it will "acquire Bucyrus International in a transaction valued at approximately $8.6 billion (including net debt)." The company said it expects the transaction to close in mid-2011. Bucyrus is a leader in the design and manufacture of high productivity mining equipment for the surface and underground mining industries. The equipment is used for mining coal, copper, iron ore, oil sands and other minerals.
Source: IANS