Joy Global's (JOY) low takeover valuation will likely attract potential acquirers for the largest independent maker of underground mining equipment, reports Bloomberg Businessweek. Joy has fallen 43% since February on reduced spending by mining companies as demand falls for coal in the U.S. The $5.8B firm traded yesterday at 8.2 times earnings in the last 12 months, lower than 90% of similar construction and mining equipment makers, according to Bloomberg data. One possible suitor: Komatsu (KMTUY).
- Bloomberg Businessweek