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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.