Monday, November 15, 2010

Cat Takes the Prize: Bucyrus

Drat.

Caterpillar Inc., the world's largest construction and mining equipment maker, says it has agreed to buy South Milwaukee-based Bucyrus International for $7.6 billion in cash.

That's good for Bucyrus shareholders (about 30% over), but very bad for the greater Milwaukee area. Losing a corporate HQ, no matter the 'divisional' HQ location, is always a negative.

6 comments:

steveegg said...

Guess that newly-minted TIF district in Oak Creek to subsidize Bucyrus' move into the former Midwest Airlines headquarters isn't going to pay off.

Neo-Con Tastic said...

This is really bad news.

Dad29 said...

Steve, that's where the "Divisional HQ" will land, so it's not a zero for Oak Creek or Wisconsin.

But it is NOT good news overall.

J. Strupp said...

Damn this is bad news indeed.

steveegg said...

Now that the BizTimes clarified what the press release from Cat/Bucyrus said (which said South Milwaukee would be the home of Cat's mining operations),....

That's what I get for trusting press releases.

Anonymous said...

Bad news, give me a break. This is exactly what capitalism is all about. Get over it.