Brand
We mean business
Comprehensive legal services for businesses
in New Jersey and New York
Best Lawyers | Best Law Firms | U.S.News & world report | 2021
Richard J. Lambert was named by Best Lawyers® as a 2021 Corporate Law “Lawyer of the Year.”

Best Lawyers® is the oldest and most respected peer-review publication in the legal profession. Only one lawyer in each practice area in a given community is honored as “Lawyer of the Year.”

top-contextual
comprehensive legal services for businesses

Caterpillar’s Acquisition of Bucyrus, Part 2

As discussed in the previous post, Caterpillar Inc. has agreed to purchase Bucyrus International Inc. for $7.6 billion. The deal must still be approved by regulatory agencies. The world’s mining equipment makers have been consolidating at a fast rate and the latest deal will speed the trend.

According to The Wall Street Journal, Caterpillar has already acquired two other companies this year: a manufacturer of railroad locomotives and a maker of engines. Bucyrus acquired the mining-equipment division of Terex Corp.

According to the WSJ, Caterpillar will use debt and $2 billion from a sale of its shares to partly finance the acquisition of Bucyrus. The companies plan to close the deal by the middle of next year. The deal will be the largest for Caterpillar.

Bucyrus makes equipment to mine coal, iron ore, copper, oil sands and other minerals. Bucyrus manufacturing facilities are located in South Milwaukee, Houston and Germany. Caterpillar is based in Peoria, Illinois.

Caterpillar and Bucyrus each manufacture different equipment, so the acquisition will raise profits and bring down prices for customers. The companies say that the consolidation is not only good for their customers, but is exactly what their customers want. Instead of buying shovels from Bucyrus and mining trucks from Caterpillar, they can get them in one place.

Source:

Caterpillar to Buy Bucyrus (The Wall Street Journal)

Office Location

Dunn Lambert, LLC
1740 Broadway, 15th Floor
New York, NY 10019

Paramus Law Office Map

Dunn Lambert, LLC


New York Law Office Map


Phone: 551-228-2690
Fax: 201-957-0874

Phone:
Fax:
Best Lawyers | Best Law Firms | U.S.News & world report | 2021

GET ANSWERS from a firm
with a sense of business.

Archives

Review US
FindLaw Network