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.
For the entire story, click here.