Deals wrap: Caterpillar bets on mining
Caterpillar plans to buy Bucyrus International for $7.6 billion. The deal would create a global supplier of trucks, hydraulic shovels, blasting drills and coal-mining equipment and mark a step-up in acquisitions by Caterpillar under its new chief executive, Doug Oberhelman.
BHP Billiton scrapped its $39 billion bid for Canada’s Potash Corp and bowed to calls from investors to return cash, a move that came days after regulators blocked the year’s biggest takeover deal.
Australian wealth manager AMP and French insurer AXA SA launched a new $13.1 billion-plus bid for AXA Asia Pacific, a move set to challenge banks’ domination of the world’s fourth-largest wealth market down under.
Global M&A may jump more than a third in 2011 to the highest level since the credit crisis, driven by a big pick-up in real estate and financial services deals, according to a poll of senior executives by Thomson Reuters and Freeman, a consultancy.
The WSJ takes a look at Japan’s tough retail market and how it will affect Wal-Mart’s expansion plans in the country.