Joy Global keeps rising as takeover speculation mounts

Bloomberg notes that in the last three year Joy Global’s stock has quadrupled as takeover speculation mounts.

“While a deal for Joy Global at that price would be the industry’s biggest and cost more than $12 billion, Komatsu would gain the largest independent maker of underground mining equipment and keep it from falling further behind Caterpillar as coal producers increase investment to meet growing demand from emerging economies.”