Bucyrus International Inc. and Caterpillar Inc. received requests from the Department of Justice for additional information regarding the latter’s proposed $7.6 billion acquisition of the mining-equipment company.
The heavy-equipment giant in November agreed to buy Bucyrus in a deal valued at $8.6 billion including the target’s debt. The acquisition comes as Caterpillar’s fortunes have improved mightily the past year as construction and mining companies replenish equipment after cutting back in 2009.
But the companies received a so-called second request for further information and documentary material from the department’s antitrust division on Wednesday, Bucyrus disclosed in a regulatory filing Thursday.
Caterpillar shares closed Wednesday at $95.54 while Bucyrus finished at $90.24–compared with the $92 offer price. Neither was active premarket.
-By Matt Jarzemsky, Dow Jones Newswires;
