Bucyrus Investor Sues To Block $7.6B Caterpillar Deal

Law360, New York (November 18, 2010, 7:35 PM EST) -- A Bucyrus International Inc. shareholder has filed a putative class action to block Caterpillar Inc.’s proposed $7.6 billion acquisition of the company, accusing Bucyrus' board of breaching its fiduciary duty by not seeking the highest value for shareholders.

The deal will damage shareholders by preventing them from realizing the benefits of a recent merger between Bucyrus and Terex Corp., according to the complaint, filed Thursday in the Delaware Chancery Court.

Shareholder Margaret Richardson seeks to represent a class of shareholders who she says will suffer "irreparable...
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