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Caterpillar and Mining Machinery settle the dispute relating to the Siwei acquistion, with CAT...

Caterpillar and Mining Machinery settle the dispute relating to the Siwei acquistion, with CAT cutting $135M from the $164.5M still owed to MML. It's a small salve to Caterpillar which had to take a $580M charge after discovering accounting issues. (PR)
Comments (2)
  • jesse1999
    , contributor
    Comments (27) | Send Message
     
    Some Director should have lost his job over this account issues
    17 May 2013, 06:25 PM Reply Like
  • joecashflow
    , contributor
    Comments (9) | Send Message
     
    I agree. If Caterpillar simply wrote the purchase agreement to pay X dollars over audited book value and their auditors did the due dilegence, this could have been avoided. Should have even expected this: China + mining industry = choppy waters.
    17 May 2013, 11:24 PM Reply Like
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