Bucyrus International Inc - proposed acquisition of the mining equipment business of Terex Corporation (Terex Mining)

Acquirer(s)

  • Bucyrus International Inc

Target(s)

  • the mining equipment business of Terex Corporation (Terex Mining)

Summary

Bucyrus International, Inc. entered into an agreement to purchase the mining equipment business of Terex Corporation (Terex Mining).

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.

Timeline

DateEvent
19/01/2010ACCC commenced review under the Merger Review Process Guidelines.
02/02/2010Closing date for submissions from interested parties.
12/02/2010ACCC announced it would not oppose the proposed acquisition.