KMTUF
Komatsu Ltd.OTCPK - Current
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  • Tue, Jul. 26, 11:22 AM
    • Komatsu's (OTCPK:KMTUY -0.2%) $2.9B takeover of Joy Global (JOY -0.1%) is expected to get the nod from the European Commission, although divestments might be required, two Brussels-based lawyers told CTFN.
    • The transaction will ultimately obtain approval, "perhaps with a few distinct divestments," but "it will not be painless," an antitrust lawyer close to the Japanese heavy equipment maker said.
    • A second antitrust lawyer agreed that although the transaction will allow Komatsu to gain access to the underground mining business, overlaps in some product lines, such as wheel loaders, might require divestments.
    | Tue, Jul. 26, 11:22 AM
  • 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. 7, 2015, 4:59 PM
    • Komatsu (OTCPK:KMTUF) will partner with GE to provide big-data analysis services for mining projects, using Internet of Things technology to boost efficiency in areas ranging from excavation to transport and power generation, Nikkei Asian Review reports.
    • Komatsu and GE have been running tests since last year at a Chilean copper mine and plan to start offering data analysis services to resource companies this fiscal year, according to the report.
    • The companies apparently would not profit directly from the new service, but would support clients by offering ways to optimize efficiency, which they hope will boost sales of their own equipment.
    | Apr. 7, 2015, 4:59 PM | 1 Comment
  • Sep. 20, 2012, 7:20 AM
    The Nikkei - down 1.6% - sheds all and more of its post-BOJ QE pop as Japan's export trade continues to deteriorate. Trade was already in rough shape as the global economy slowed, now the island dispute with China threatens to hurt business even more. Among the big decliners was Komatsu - which gets 15% of sales in China - falling 3.1%.
    | Sep. 20, 2012, 7:20 AM
  • Jul. 10, 2012, 4:18 AM
    Truck maker Komatsu has no interest in buying Joy Global (JOY) after concluding there are few synergies to aid Komatsu's push into underground mining equipment. Joy Global's low valuation and industry M&A had made it the subject of takeover speculation.
    | Jul. 10, 2012, 4:18 AM
  • Jun. 5, 2012, 10:57 AM

    Joy Global's (JOY +1.3%) low takeover valuation may attract potential acquirers, as a buyer could offer a premium of 80% and still acquire it at the least expensive net income multiple on record for the industry, Bloomberg reports. JOY trades at ~8.2x 12-month trailing earnings, lower than 90% of similar construction and mining equipment makers. One possible suitor: Komatsu (KMTUY.PK).

    | Jun. 5, 2012, 10:57 AM | 1 Comment