Politics & Government
Justice Dept. Clears Bucyrus Sale
Company's sale to Caterpillar takes another step forward.
The U.S. Department of Justice has closed its investigation into the pending acquisition of Bucyrus by Caterpillar Inc., concluding the antitrust review process, the companies announced Friday.
The clearance by the DOJ allows the acquisition, valued at $8.6 billion, to proceed as soon as all other conditions have been satisfied, according to a news release.
"This is a critical and important step as we move toward closing this historic transaction that will deliver tremendous value to all the Bucyrus stakeholders," Bucyrus CEO Tim Sullivan said in the news release.
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The transaction of Bucyrus, headquartered at 6744 S. Howell Ave. in Oak Creek, is expected to close in the middle of this year.
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