Komatsu moves to acquire U.S. mining equipment manufacturer Joy Global
Komatsu announces that it will acquire Wisconsin-based surface and underground mining equipment manufacturer Joy Global.
Joy Global, founded in 1884 with manufacturing facilities across the world, manufactures the P&H, Joy and Montabert brands of equipment.
Once passing regulatory and shareholder approval hurdles, Joy will become a wholly owned subsidiary of Komatsu America Corp. for $2.9 billion, or roughly $28.30 per share. Including Joy Global debt, the total deal is worth around $3.7 billion. The deal is expected to close by mid-2017.
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