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Thursday, January 20, 2011

US DOJ seeks more details on Caterpillar's Bucyrus buy, (NASDAQ: BUCY), (NYSE: CAT), (NASDAQ: JOYG)

Bucyrus International Inc (BUCY.O) said U.S. federal antitrust regulators have asked for more information from it and Caterpillar (CAT.N) regarding its proposed $7.6 billion acquisition by the world's largest maker of construction and mining equipment. In a filing with the U.S. Securities and Exchange Commission, Bucyrus said the companies received a request -- often referred to as 'second request' -- for additional information and documentary material from the antitrust division of the U.S. Department of Justice. In November, Caterpillar said it would buy Bucyrus for $7.6 billion, or about $92 a share, in its biggest acquisition ever to seal its position as the world's largest maker of mining equipment. [ID:nN15274061] The Caterpillar-Bucyrus deal will leave Joy Global (JOYG.O) as the last remaining stand-alone U.S.-based maker of mining equipment. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Joyjeet Das)

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