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Monday, November 15, 2010

Caterpillar (NYSE: CAT) Swallows Bucyrus (NASDAQ: BUCY)


Caterpillar is bidding $92 for Bucyrus International. This values the company at $7.6 billion in cash. Bucyrus, a designer and manufacturer of mining equipment is up over 29% on the news. The market views this as being positive for Caterpillar as well, which is up over 2% on the takeover.