Komatsu acquires Joy

摘要

Tokyo-based mining and construction equipment maker Komatsu is set to acquire US mining equipment firm Joy Global for US$ 2.89 billion. A press release from Komatsu said a "definitive agreement" had been reached by the two companies, "subject to approvals under laws in relevant countries". The Japanese firm has agreed to pay US$ 28.30 a share in cash for Milwaukee-based Joy Global - 20% higher than the company's closing price on 20 July.