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Caterpillar Inc. will likely take a break from acquisitions after reaching three large deals in the past year, executives at the world’s largest maker of heavy equipment said.
The company will be focused on closing its $7.6 billion takeover of mining equipment maker Bucyrus International, and then on integrating that new operation into the rest of its business, Chief Executive Doug Oberhelman said. Get the full story »
(AP Photo/Toby Talbot, file)
Caterpillar says February was another strong month for sales of its mining and construction equipment, and global sales grew 59 percent over last year.
The Peoria-based company reported sales figures Friday in documents filed with the Securities and Exchange Commission. Get the full story »
The London Stock Exchange and TMX Group, which operates the Toronto Stock Exchange, are merging. The LSE and TMX on Wednesday said they would combine in an all-share merger of equals, creating one of the world’s largest stock exchanges. Get the full story »
Caterpillar Inc. reported a stronger-than-expected quarterly profit Thursday lifted by especially strong sales of its machines and engines in Asia and Latin America.
Caterpillar, the world’s largest maker of earth-moving construction and mining equipment, reported a fourth-quarter net profit of $968 million, or $1.47 a share, up from $232 million, or 36 cents a share, a year earlier. Get the full story »
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. Get the full story »
Caterpillar Inc. said Monday it will open a plant in Thailand to produce underground mining equipment in the midst of increasing demand for mined commodities by developing countries. Get the full story »
Caterpillar Inc.’s Decatur plant has reached a major milestone with the production of its 10,000th mining truck. Get the full story »
Caterpillar Inc. suspended a plan to build mining shovels at its Aurora facility, which would have created 300 jobs through 2014.
The change of plans is due to the company’s acquisition of South Milwaukee-based Bucyrus International, a maker of shovels, walking draglines, drills and other mining equipment. The $7.6 billion deal, which was announced in November, is expected to close in mid-2011.
The company said in a statement that it suspended the all development and capital investment for mining shovels in Aurora “to conserve resources and eliminate business risks associated with internal development.” Get the full story »
The Canadian government on Wednesday blocked BHP Billiton’s $39 billion bid for Potash Corp., the world’s biggest producer of a key crop nutrient, halting what had been the world’s biggest takeover attempt this year and sending Potash Corp. shares tumbling.
Ottawa said the Anglo-Australian miner’s takeover bid offered no likely net benefit to the country as required by Canadian law. BHP has 30 days to make additional representations to the Canadian government before the decision is final. Get the full story »
Saskatchewan lined up more support for its attempt to overturn a hostile bid for provincial crown jewel Potash Corp. on Friday, increasing political pressure on the Canadian government to reject the deal.
Industry Minister Tony Clement must decide by midnight November 3 whether to approve the $39 billion bid from Anglo-Australian mining giant BHP Billiton. Get the full story »
BHP Billiton CEO Marius Kloppers visited the home city of Potash Corp. on Monday but failed to win the support of the provincial premier for its $39 billion offer to take over the world’s largest fertilizer supplier.
Saskatchewan Premier Brad Wall said he still has concerns about BHP’s proposal after meeting with Kloppers, who sought to bolster the chances that Canada would approve the bid by winning the province’s support. Get the full story »
From The New York Times | Potash Corp. of Saskatchewanon put up several videos of William Doyle, its chief executive, on Tuesday, to explain why shareholders are better off sticking with the company than flocking to BHP’s offer.
BHP Billiton, the world’s biggest miner, tried to dampen expectations it would substantially raise its hostile $39 billion bid for Potash Corp. as bumper results showed it has plenty of firepower.
“I will be as disciplined on this bid as I’ve been on every other endeavour,” Chief Executive Marius Kloppers told a conference call with reporters on Wednesday. “The shareholders own the company and it’s my job to create more value for them, not to do any one thing at any cost.” Get the full story »
Federal regulators say two Spanish investors made illegal profits of $1.1 million by trading on secret information about BHP Billiton PLC’s bid to acquire Potash Corp. The Securities and Exchange Commission said Juan Jose Fernandez Garcia and Luis Martin Caro Sanchez bought investments that became valuable after the mining company offered $38.5 billion to take over fertilizer maker Potash. Garcia heads the research arm of a bank that was advising BHP on the deal.
Potash Corp. of Saskatchewan Inc. said Monday that its board voted unanimously to reject BHP Billiton’s hostile $38.5 billion takeover offer as it doesn’t reflect the strong growth the company believes it is poised to enjoy.
The Canadian company said it’s in talks with several companies who have approached it or it has initiated contact with.
