Caterpillar Inc.NYSE
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  • Mon, Aug. 29, 8:55 PM
    • Ritchie Bros Auctioneers (NYSE:RBA) agrees to acquire IronPlanet, an online marketplace for used heavy equipment and other durable asset sales, for $758.5M.
    • RBA says IronPlanet sold $787M of gross merchandise value through its sales channels during 2015, and tallied a 25.2% compounded growth rate in assets sold during 2013-15.
    • RBA also announces a deal to partner with Caterpillar (NYSE:CAT) for live onsite and online auctions of CAT's used equipment, effective upon the closing of the IronPlanet acquisition, which is expected by H1 2017; CAT and its dealers own a minority stake in IronPlanet.
    | Mon, Aug. 29, 8:55 PM
  • Thu, Jul. 21, 3:52 AM
    • Looking to strengthen its core mining equipment unit, Japan's Komatsu (OTCPK:KMTUY) has agreed to buy Joy Global (NYSE:JOY) for $2.9B, amid a fight for market share with industry leader Caterpillar (NYSE:CAT).
    • Under the terms of the agreement, Joy stakeholders will receive $28.30 in cash for each outstanding share of common stock held, representing a 20% premium to yesterday's closing price.
    • JOY +20% premarket
    | Thu, Jul. 21, 3:52 AM | 25 Comments
  • Apr. 23, 2015, 5:49 PM
    • At least a half-dozen major industrial companies - including GE, Caterpillar (NYSE:CAT) Siemens (OTCPK:SIEGY), Honeywell (NYSE:HON), Dover (NYSE:DOV), Danaher (NYSE:DHR) and Emerson Electric (NYSE:EMR) - are said to be weighing offers for oilfield services assets worth $5B-$10B that Halliburton (NYSE:HAL) is preparing to sell ahead of its pending merger with Baker Hughes (NYSE:BHI), Bloomberg reports.
    • HAL reportedly will send offering materials to those companies, as well as P-E firms and rival oilfield services providers, in the coming weeks; first up likely will be the drill bits unit and another that uses data to track and steer the direction of drills.
    • These companies could own an edge over oilfield services companies that analysts have pegged as logical bidders for HAL’s castoffs - such as National Oilwell Varco (NYSE:NOV) and Superior Energy Services (NYSE:SPN) - because HAL might not want to give any more market share to companies that already offer the same services, preferring to sell to new players entering the market.
    | Apr. 23, 2015, 5:49 PM | 1 Comment
  • Jul. 1, 2013, 12:22 PM

    Caterpillar (CAT +0.5%) acquires Sweden's Johan Walter Berg AB, a maker of driven propulsion systems and marine controls for ships, in an effort to expand its offerings of advanced marine power products. The company will become part of CAT's marine and petroleum power division. Terms of the deal weren't disclosed, but the sale is expected to close in Q3 2013.

    | Jul. 1, 2013, 12:22 PM | 1 Comment
  • May 30, 2012, 10:34 AM
    Caterpillar (CAT -2.9%) agrees to sell its Bucyrus distribution and support business in South Africa and Botswana to industrial group Barloworld (BRRAY.PK) for $115M. The divestment follows Caterpillar's $7.6B acquisition of Bucyrus, a maker of mining equipment, in 2011.
    | May 30, 2012, 10:34 AM | 1 Comment
  • May 10, 2012, 9:22 AM
    Caterpillar (CAT -0.5%) agrees to sell a 65% holding in Caterpillar Logistics Services to Platinum Equity in a deal valued at $750M. Caterpillar will keep a 35% stake in the unit.
    | May 10, 2012, 9:22 AM
  • Mar. 8, 2012, 9:36 AM
    Caterpillar (CAT) and  other heavy machinery vendors are facing growing competition from Chinese firms such as Sany, Zoomlion, and XCMG, who are now stepping up their efforts to acquire foreign companies for their technology, brands, and distribution networks. Chinese companies accounted for an estimated 15% of the revenues of the top 50 construction gear companies in 2010, up from just 1.6% in 2003.
    | Mar. 8, 2012, 9:36 AM
  • Jan. 18, 2012, 9:17 AM

    Canada's Finning (FINGF.PK) will acquire from Caterpillar (CAT) the distribution and support businesses in parts of South America and western Canada and in the U.K. in a transaction valued at ~$465M. The deal will provide sales, service and support for former Bucyrus mining products in all of Finning's dealership territories. (PR)

    | Jan. 18, 2012, 9:17 AM
  • Jan. 5, 2012, 1:28 PM
    Farm equipment maker AGCO rises 2% after CEO Martin Richenagen tells a German paper he won't rule out a merger with a competitor such as Caterpillar (CAT). He adds that strong demand will lift AGCO's 2012 revenue to $10B, which compares favorably with a $9.8B consensus.
    | Jan. 5, 2012, 1:28 PM
  • Dec. 14, 2011, 4:33 AM

    Caterpillar (CAT) announced it will sell part of the former Bucyrus distribution business to Sime Darby Berhad (SMEBF.PK) for ~$360M.

    | Dec. 14, 2011, 4:33 AM
  • Nov. 11, 2011, 7:14 AM

    Confirming earlier reports (I, II), Caterpillar (CAT) makes a pre-conditional offer to acquire ERA Mining Machinery in a deal aimed at helping CAT increase its presence in China. Shareholders of ERA will have to choose between an all-cash offer or a loan note alternative.

    | Nov. 11, 2011, 7:14 AM
  • Nov. 10, 2011, 2:51 PM

    Caterpillar's (CAT +0.8%) bid to buy ERA Mining is in the stretch run with final details of the $6.9B merger still being hammered out. One of the bigger items on the table is if the deal will be an all-cash offer or be financed by a note with a valuation tied to the gross profit of the company.

    | Nov. 10, 2011, 2:51 PM
  • Nov. 10, 2011, 8:24 AM

    The WSJ reports Caterpillar (CAT) struck a deal to purchase Hong Kong-based ERA Mining Machinery for 6.9B Hong Kong dollars ($887M). The move will be aimed at helping the firm improve its market share in China - which accounts for close to 50% of global demand for construction equipment. Shares +1.5% premarket.

    | Nov. 10, 2011, 8:24 AM | 1 Comment
  • Jul. 27, 2011, 7:59 AM
    P-E firms Centerbridge and BC Partners are pursuing Caterpillar's (CAT) logistics business, which could fetch over $1B, sources say. The auction for the unit has reached its final round and comes as Caterpillar increases its focus on its core business.
    | Jul. 27, 2011, 7:59 AM
  • Jul. 14, 2011, 3:54 AM
    Joy Global (JOYG) is reportedly in talks to buy China's International Mining Machinery Holdings (ICMHF.PK), a maker of coal-mining equipment. China is the world's largest coal mining market, and a deal could help Joy Global block (or at least slow) rival Caterpillar (CAT) from gaining further scale in the country.
    | Jul. 14, 2011, 3:54 AM
  • Jul. 8, 2011, 1:36 PM

    Shares of Bucyrus (BUCY +0.2%) gain after Caterpillar (CAT -1.4%) announces it has received approval from the Peoples Bank of China to buy the company, following an anti-trust thumbs-up from the U.S. in May, setting the stage to close the $8.8B cash-only deal.

    | Jul. 8, 2011, 1:36 PM