ADVFN - Advanced Financial Network.
HOME» NASDAQ » B » BUCY Stock Price » BUCY Stock News

Bucyrus Share News

 Bucyrus International (mm) Stock Price
BUCY Stock Price
 Bucyrus International (mm) Stock Chart
BUCY Stock Chart
 Bucyrus International (mm) Stock News
BUCY Stock News
 Bucyrus International (mm) Company Information
BUCY Company Information
 Bucyrus International (mm) Stock Trades
BUCY Stock Trades

Caterpillar To Buy Mining-Equipment Company Bucyrus For $7.6 Billion

DOW JONES NEWSWIRES Caterpillar Inc. (CAT) said it will buy mining giant Bucyrus International Inc. (BUCY) for about $7.6 billion as the heavy-equipment giant looks to bolster its mining-equipment production. The deal comes as Caterpillar's fortunes have improved mightily the past year as construction and mining companies replenish equipment after cutting back in 2009. Under the agreement, Caterpillar will pay $92 for each Bucyrus shares--a 32% premium to Friday's closing price and an all-time high for the stock. Including debt, the deal's value is $8.6 billion. Caterpillar shares fell 1.4% to $79.92 in premarket action on the news after rising 42% this year through Friday. Joy Global Inc. (JOYG), which was eclipsed by Bucyrus as the world's biggest mining-equipment maker following a recent acquisition by Bucyrus, rose 9.8% to $79.48. "For several years, mining customers have been asking us to expand our range of products and services to better serve their increasingly complex requirements," said Caterpillar Chairman and Chief Executive Doug Oberhelman. "This announcement says to those customers, we heard you loud and clear." The deal, which expected to close in mid-2011, will be funded through a combination of cash, debt and up to $2 billion in equity. Caterpillar said it will keep the mining-business headquarters in South Milwaukee, Wis., where Bucyrus is currently headquartered, and it will maintain the brand. In October, Bucyrus said its third-quarter earnings fell 16% as its underground-mining income slipped. Meanwhile, Caterpillar's profit nearly doubled as machinery sales jumped sharply from last year's moribund levels. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com

Stock News for Bucyrus (BUCY)
DateTimeHeadline
06/08/201112:53:41Caterpillar Lifts Dividend 4.5% At About $52 Million Annual Cost
05/26/201116:30:02Caterpillar Avoids Issuing Shares for Bucyrus; Uses Cash
05/20/201119:58:26US Antitrust Regulators Clear Caterpillar Takeover Of Bucyrus
05/05/201103:49:41EU Clears Caterpillar To Buy US Mining Equipment Maker Bucyrus
04/29/201108:37:10Caterpillar 1Q Profit, Sales Surge; Results Top Views
04/20/201118:11:01Terex 1Q Profit Down 98% On Prior-Year Gain; Sales Jump
03/26/201113:26:13Terex Corp CEO Not Sold On Sale Prices For Companies
02/18/201104:33:25Bucyrus 4Q Net Profit Up 60% With Help From Acquisition
01/20/201107:06:09DOJ Seeks Information On Caterpillar's Proposed Bucyrus Buyout
12/30/201007:00:06Industrial Cos See Acquisitions As Hedge Against Slower '11 Growth
11/15/201017:21:03MARKET SNAPSHOT: U.S. Stocks Hit As Treasury Yields Rise
11/15/201015:32:51MARKET SNAPSHOT: U.S. Stocks Lifted By Retail Sales, Mergers
11/15/201013:03:36MARKET SNAPSHOT: U.S. Stocks Get A Lift From Retail Sales, Deals
11/15/201010:12:43MARKET SNAPSHOT: U.S. Stocks Lifted By Retail Sales, Irish Hopes
11/15/201008:34:36Caterpillar To Buy Mining-Equipment Company Bucyrus For $7.6...
10/05/201015:35:13Terex Announces $600 Million Debt Tender As Credit Line Amended
08/25/201015:12:34US Export-Import Bank Clears Loan To India Power Plant
07/14/201016:32:10Bucyrus Gets Ex-Im Bank's Support For India Coal Project
02/19/201019:52:29Terex Takes Leading Stake In Bucyrus After Equipment Sale
02/09/201012:23:07U.S. Industrials Looking Better To Morgan Stanley Analysts

Bucyrus and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad