Joy Global Wins Nod For $20M Investor Deal In Merger Row

Law360 (September 14, 2018, 9:06 PM EDT) -- A Wisconsin federal judge on Friday granted preliminary approval to Joy Global Inc.’s $20 million deal with investors to end their class action alleging the company and its executives undervalued Joy Global when agreeing to a deal valued at $3.7 billion with Japanese mining giant Komatsu Ltd.

U.S. District Judge Pamela Pepper signed off on the preliminary version of the deal, granting the early approval that had been requested in May but had, through the “press of [the court’s] docket,” mistakenly been missed by the judge, according to the order.

When Komatsu swept in to buy Joy Global in July 2016 for...

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