Caterpillar to acquire Weir Oil & Gas for $405M (NYSE:CAT)

Caterpillar (NYSE:CAT) inks agreement to acquire the Oil & Gas Division of the Weir Group PLC, a Scotland-based global engineering business. Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products.

The purchase price of $405M is to be paid in cash at closing. The transaction includes more than 40 Weir Oil & Gas manufacturing and services locations and approx. 2,000 employees.

Caterpillar is taking advantage of its strong balance sheet to complete this acquisition that supports the enterprise strategy.

See overview of Company’s Balance Sheet.

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