Joy Global Shareholders Approve Komatsu Sale

In the previously announced deal, Joy Global stockholders will receive $28.30 per share in cash.

📅   Tue October 25, 2016 - National Edition
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The two companies have received the necessary clearances in the United States and Canada, and Joy Global says the transaction is on track to close by the middle of next year.
The two companies have received the necessary clearances in the United States and Canada, and Joy Global says the transaction is on track to close by the middle of next year.

The Milwaukee-Wisconsin Journal Sentinel is reporting that Joy Global Inc. says its shareholders have voted to approve the pending acquisition of the company by Komatsu America Corp. for $3.7 billion.

In the previously announced deal, Milwaukee-based Joy Global stockholders will receive $28.30 per share in cash for each outstanding share of common stock held at the time of the closing of the transaction.

The completion of the transaction remains subject to certain other closing conditions, including obtaining necessary regulatory clearances under competition laws in relevant countries.

The two companies have received the necessary clearances in the United States and Canada, and Joy Global says the transaction is on track to close by the middle of next year.

Source: The Milwaukee-Wisconsin Journal Sentinel