Bucyrus Purchased By Caterpillar

Famed construction equipment giant Caterpillar Inc. revealed today that the firm will purchase Bucyrus International, an industry leader in mining equipment. The deal is expected to total $8.6 billion, which includes $1 billion in debt.

The offer, which stands at $92 per-share, is a 32% premium over Bucyrus’ closing price of $69.62 from Friday. The value of the deal is $7.6 billion. Caterpillar is set to assume $1 billion in debt from Bucyrus.

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