Bucyrus International Inc - proposed acquisition of the mining equipment business of Terex Corporation (Terex Mining)
Type of assessment
Informal Review
Reference
40342
Acquirer(s)
Bucyrus International Inc
Target(s)
the mining equipment business of Terex Corporation (Terex Mining)
Industry
Mining Equipment
Summary
Bucyrus International, Inc. entered into an agreement to purchase the mining equipment business of Terex Corporation (Terex Mining).
Outcome of assessment
Not opposed
Total review days *
18
Commenced public review
19th January 2010
Date completed
12th February 2010
Market definition
The proposed acquisition was considered in the context of the following markets:
- the global market for the manufacture and supply of electric shovels;
- the global market for the manufacture and supply of hydraulic excavators;
- the global market for the manufacture and supply of draglines;
- the global market for the manufacture and supply of small rotary blasthole drills; and
- the global market for the manufacture and supply of large rotary blasthole drills.
Competition analysis
In light of the limited competitive overlap between the parties and little likelihood that the proposed acquisition would lead to conglomerate effects, the ACCC considered that the proposed acquisition was unlikely to substantially lessen competition in any of the relevant markets.
Review timeline
Date
Event
19th January 2010
ACCC commenced review under the Merger Review Process Guidelines.
2nd February 2010
Closing date for submissions from interested parties.
12th February 2010
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
