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Caterpillar To Acquire Weir Oil & Gas For $405M In Cash

Construction and mining equipment manufacturer Caterpillar Inc (NYSE: CAT) announced the acquisition of the Oil & Gas Division of Scotland-based engineering company Weir Group PLC (OTC: WEGRY), for $405 million in cash, on Monday.

“Combining Weir Oil & Gas’s established pressure pumping and pressure control portfolio with Cat’s engines and transmissions enables us to create additional value for customers,” Caterpillar VP for Oil & Gas and Marine Division Joe Creed said.

What Happened: The all-cash acquisition deal for Weir Oil & Gas includes 40 manufacturing and services locations …

Full story available on Benzinga.com