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.
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6 comments:

  1. Anonymous11/15/2010 8:11 AM

    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.

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  2. Neo-Con Tastic11/15/2010 8:28 AM

    This is really bad news.

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  3. Dad2911/15/2010 10:14 AM

    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.

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  4. J. Strupp11/15/2010 1:38 PM

    Damn this is bad news indeed.

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  5. steveegg11/15/2010 5:03 PM

    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.

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  6. Anonymous11/17/2010 11:28 AM

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

    ReplyDelete