Caterpillar, the world's largest construction and mining equipment maker moved aggressively to meet demand in emerging markets on Monday with a purchase value of 7600000000 of Bucyrus International.
If growth continues in developed countries like the United States slow process, global and Caterpillar Inc., also in China, India and Brazil, where the appetite for raw materials used in construction and mining equipment very motivated.
Caterpillar has doubled in recent months in favor of the third quarter, thanks in large part to growth in these markets. The acquisition and what Caterpillar called a solid outlook for commodities, places so quickly. driven by improvements in infrastructure and rapid urban development and industrialization of their economies "that coal for electricity for steel, iron, copper pipes and other construction projects.
The purchase price of up to $ 92 per share, representing a premium of 32 percent to the closing price Friday of Bucyrus. The transaction is valued at $ 8600000000 including debt, is expected by mid-2011.
Bucyrus is located in South Milwaukee, WI produces equipment for coal mines, copper, iron ore, oil sands and other minerals that are used.
The agreement requires approval by regulators and shareholders Bucyrus. Caterpillar of Peoria, Illinois, said Monday the purchase of the mining company to expand and exploit the rapid growth in emerging countries.
source: http://dailycaller.com/2010/11/15/caterpillar-agrees-to-buy-bucyrus-for-7-6-billion/