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3 Firms Steer Toro's $700M Excavation Biz Buy

Law360 (February 15, 2019, 2:10 PM EST) -- Specialty construction and outdoor maintenance equipment provider the Toro Co. said on Friday that it has agreed to buy the maker of underground construction equipment for $700 million, in a deal that was steered by Fox Rothschild LLP, Latham & Watkins LLP and McAfee & Taft PC.

Minnesota-based Toro said that it will buy privately held The Charles Machine Works Inc. for $700 million in cash as a way to bolster its specialty construction business. Toro said that the deal will allow it to break into a market that is poised for growth due to aging infrastructure and the need for...

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