“Joy Global Inc. which generated the biggest shareholder returns of any industrial company in America over the past three years, would now be worth about 50 percent more as a takeover target for Komatsu Ltd. or Volvo AB.
Joy Global, subject of renewed takeover speculation in the past month,more than quadrupled (JOYG) in value since 2008 and closed at $81.21 yesterday. With Caterpillar Inc., the world’s largest maker of construction and mining equipment, buying Joy Global’s biggest competitor in July, the Milwaukee-based company may command a record $120 a share in an acquisition, Northcoast Research Holdings LLC and William Blair & Co. said.”
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