Joy Global Sells Asset to Nucor, Agrees to Be Acquired by Komatsu

SUGAR LAND--July 26, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Last week was a busy one for mining equipment giant Joy Global Incorporated (NYSE:JOY) (Milwaukee, Wisconsin). The company's board of directors approved a definitive merger agreement with Komatsu America Corporation, a subsidiary of Komatsu Limited (Tokyo, Japan) in a transaction valued at about $3.7 billion. The deal is seen as complementary for Komatsu and gives Komatsu greater access to Joy Global's strong presence in the U.S. coal and underground mining equipment market. The acquisition is not scheduled to be finalized until mid-2017. Within this article: Touches on Nucor Corporation's (NYSE:NUE) proposed acquisition of Joy Global's steel mill in Longview, Texas. Additional companies: Caterpillar Incorporated (NYSE:CAT)