Caterpillar/Bucyrus purchase gains EU regulatory approval
A deal between Caterpillar and Bucyrus has gained regulatory approval from EU authorities.
The purchase of mining equipment specialist Bucyrus by industry giant Caterpillar has gained regulatory approval from the EU.
Business negotiations concluded on the deal in November, marking the biggest ever acquisition by the earth-moving firm.
However, despite being finalised, the agreement had to pass the scrutiny of regulatory authorities, who examined the effect the pairing would have on competition in the sector.
The European Commission, which serves as a watchdog for such buyouts, claimed that although the deal would lead to a high market share for Caterpillar, increases would be comparatively low and would not impact on other big firms in the industry.
"The Commission concluded that the transaction would not significantly impede effective competition," the organisation said in a statement.
Another deal awaiting the approval of regulatory authorities is the proposed purchase of Computec SA by British credit company Experian.
The UK firm suggested the acquisition would affirm its presence in South America and would add to its existing presence in Brazil.