Joy Global buys 41% stake in IMM

Heavy equipment manufacturer Joy Global Inc. has acquired 41.1 percent of the outstanding common stock of Hong Kong-based International Mining Machinery (IMM) Holdings Ltd., giving the company 69.2 percent of IMM’s outstanding common stock, according to a company statement regarding the purchase.

Joy Global is now required to make an unconditional cash tender offer for the remaining shares of IMM common stock and all outstanding...


December 31, 2011

00:04 GMT