BMO Capital Downgrades Joy Global (JOY) to Market Perform
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July 22, 2016 2:07 PM EDT
S&P Global Ratings said that it has placed all of its ratings on Joy Global Inc. (NYSE: JOY), including our 'BB+' corporate credit rating, on CreditWatch with positive implications.
"The CreditWatch placement follows Joy Global Inc.'s announcement that it... More
July 21, 2016 5:40 AM EDT
Joy Global Inc. (NYSE: JOY) announced that its Board of Directors has unanimously approved a definitive merger agreement under which Komatsu America Corp., a subsidiary of Komatsu Ltd., will acquire Joy Global in a transaction valued at approximately $3.7 billion, including Joy Globals outstanding indebtedness. Under the terms of the agreement, Joy Global stockholders will receive $28.30 per share in cash for each outstanding share of common stock held, representing a 48% premium to the volume weighted average closing price of Joy Globals common stock for the 90 trading days and a 41% premium to the volume... More
