Caterpillar Just Dropped $7.6 Billion On A Red-Hot Mining Equipment Company

Caterpillar Bucyrus mining

Not surprisingly, the business of pulling resources out of the ground continues to be a very exciting one for the future.

Caterpillar has just announced the acquisition of Wisconsin-based mining equipment maker Bucyrus for $7.6 billion or $92/share, which is well above the $69 it traded at when it closed Friday.

The full announcement can be found here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at