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JOY > SEC Filings for JOY > Form 8-K on 29-Dec-2011All Recent SEC Filings

Show all filings for JOY GLOBAL INC



Other Events, Financial Statements and Exhibits

Item 8.01 Other Events.

On December 29, 2011, Joy Global Inc. (the "Company") completed the purchase of 534.8 million shares of International Mining Machinery Holdings Limited ("IMM"), a leading designer and manufacturer of underground mining equipment in China. The shares, which represent approximately 41.1% of IMM's outstanding common stock, were purchased pursuant to a stock purchase agreement, dated as of July 11, 2011, as amended and restated on July 14, 2011, between TJCC Holdings Limited, the Company and the Company's wholly owned subsidiary, Newco Hong Kong 123 Limited. The shares were purchased for HKD8.50 per share, or approximately $584 million at present exchange rates. As a result of prior open-market purchases of IMM shares, Joy Global now owns approximately 69.2% of IMM's outstanding common stock. As required by Rule 26.1 of the Hong Kong Takeovers Code, the Company will be required to commence a tender offer for the remaining shares of IMM, as well as for outstanding options to purchase IMM common stock. The Company expects the tender offer to commence promptly.

The press release announcing the acquisition of a controlling interest in IMM is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release, dated as of December 29, 2011, of Joy Global Inc. announcing the acquisition of a controlling interest in IMM.

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