Equipment Type

China Approves Cat's Acquisition of Bucyrus

Caterpillar and Bucyrus were notified by the Ministry of Commerce of the People’s Republic of China (MOFCOM) that it has formally approved Caterpillar’s planned acquisition of the company.

July 08, 2011

Caterpillar and Bucyrus International received notification from the Ministry
of Commerce of the People’s Republic of China (MOFCOM) that it has formally
approved Caterpillar’s planned acquisition of the Wisconsin-based mining equipment company.

This action follows the United States Department of Justice’s recent clearance of
the transaction. The MOFCOM clearance is the last major regulatory requirement needed for the acquisition to be completed. The deal, valued at approximately $8.8 billion (including net debt), is expected to close shortly.

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