Caterpillar, the world’s largest construction company, has agreed to acquire German engine maker MWM Holding from British private equity firm 3i Group for €580 million — or $810 million — in cash.

Reuters reports that Caterpillar’s rich offer likely preempted a formal auction for the Mannheim-based gas and diesel engine manufacturer that would have attracted large strategic buyers. Caterpillar previously tried to acquire MWM three years ago only to be outbid by 3i, according to The Wall Street Journal. (The Journal reports that 3i initially paid €360 million for MWM — not a bad investment, it appears.)

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]