Bucyrus To Buy Terex Mining Unit For $1.3B

Law360, New York (December 21, 2009, 4:49 PM EST) -- Bucyrus International Inc. said Monday that it will acquire Terex Corp.'s mining equipment business for $1.3 billion in cash.

The deal allows Terex to receive up to $300 million of the purchase price in the form of Bucyrus shares, based on the current trading price, according to the announcement.

“We are extremely excited about acquiring Terex Mining and we believe that this is a unique opportunity to build an even stronger company for our customers, employees and shareholders,” said Tim Sullivan, CEO of Bucyrus.

“Through our...
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