The Federal Court of Australia has officially approved Caterpillar’s acquisition of RPMGlobal, paving the way for the scheme of arrangement to proceed without further impediment. This marks a significant step in the acquisition process, indicating that all regulatory and legal hurdles have been cleared. RPMGlobal specialises in providing software solutions for the mining industry, offering services from mine planning to execution. Caterpillar, a global construction and mining equipment giant, is set to integrate RPMGlobal’s technology into its existing portfolio.
RPMGlobal will lodge the court’s orders with the Australian Securities and Investments Commission (ASIC) this Wednesday. Upon lodging, the scheme will become legally effective. Consequently, trading of RPM shares on the Australian Securities Exchange (ASX) will be suspended at the close of trading today.
Under the terms of the agreement, eligible RPM shareholders are slated to receive $5 per share. The record date for determining eligibility is set for February 11. Implementation of the scheme, including the distribution of funds to shareholders, is anticipated to occur on February 18.
The acquisition represents a significant development for both companies and their respective stakeholders. Caterpillar stands to benefit from RPMGlobal’s expertise in mining software, while RPMGlobal shareholders will receive a substantial return on their investment.
