Joy Global Inc.? announced Friday that it has commenced a tender offer for the remaining outstanding shares of International Mining Machinery Holdings Ltd., a designer and manufacturer of underground mining equipment in China.
On Dec. 29, 2011, Milwaukee-based Joy Global acquired about 41 percent of the outstanding common stock of International Mining Machinery. Combined with shares it previously owned, the transaction resulted in Joy Global?s ownership of about 69 percent of the company?s shares.
Joy Global, through its wholly owned Hong Kong subsidiary, Joy Global Asia Ltd., is offering to purchase the remaining outstanding shares of International Mining Machinery common stock. The tender offer will expire on Feb. 3.
The tender offer is required under the Hong Kong takeover code as a result of Joy Global?s acquisition of more than 30 percent of International Mining Machinery?s outstanding common stock.
Joy Global is a manufacturer of underground and surface mining equipment. Its units include West Milwaukee-based P&H Mining Equipment Inc? .
Joy Global Inc.? announced Friday that it has commenced a tender offer for the remaining outstanding shares of International Mining Machinery Holdings Ltd., a designer and manufacturer of underground mining equipment in China.
On Dec. 29, 2011, Milwaukee-based Joy Global acquired about 41 percent of the outstanding common stock of International Mining Machinery. Combined with shares it previously owned, the transaction resulted in Joy Global?s ownership of about 69 percent of the company?s shares.
Joy Global, through its wholly owned Hong Kong subsidiary, Joy Global Asia Ltd., is offering to purchase the remaining outstanding shares of International Mining Machinery common stock. The tender offer will expire on Feb. 3.
The tender offer is required under the Hong Kong takeover code as a result of Joy Global?s acquisition of more than 30 percent of International Mining Machinery?s outstanding common stock.
Joy Global is a manufacturer of underground and surface mining equipment. Its units include West Milwaukee-based P&H Mining Equipment Inc? .
Source: http://feedproxy.google.com/~r/vertical_49/~3/OfhPvE7j18g/joy-global-makes-offer-for-remaining.html
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