Joy Global Inc. Announces Completion of Transaction to Sell Drilling Products Business
Joy Global Inc. (NASDAQ: JOYG) ("Joy Global"), a worldwide leader
in high-productivity mining solutions, today announced that it has
completed the transaction to sell the drilling products business of its
LeTourneau Technologies Inc. ("LeTourneau") business to Cameron
International Corporation ("Cameron") (NYSE: CAM) for $375 million in
cash, subject to certain post-closing adjustments.
Bank of America Merrill Lynch served as exclusive financial advisor to
Joy Global on this transaction. Covington & Burling LLP served as legal
About Joy Global
Joy Global Inc. is a worldwide leader in manufacturing, servicing and
distributing equipment for surface mining through P&H Mining Equipment
and underground mining through Joy Mining Machinery.
Joy Global Inc.
Michael S. Olsen
Executive Vice President and
Source: Joy Global Inc.
News Provided by Acquire Media