Bucyrus International Inc. (BUCY) announced on Sunday that it signed a definitive agreement to acquire the mining equipment business of Terex Corp. (TEX) for US$1.3 billion in cash.
Bucyrus International gapped up sharply Monday and climbed for the majority of the morning. The stock gave back some of its gains in the early portion of the afternoon and finished higher by $5.00 at $55.84. The stock rose above a month and a half long range and set a new high for the year.
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