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Details Emerging about Komatsu’s Acquisition of Joy Global
Joy Global’s stock rose by 19.7% from the opening price of $23.5 and closed at $28.2 on July 21, after Komatsu announced that it will acquire the company.
How Joy Global Is Trying to Stop Bleeding Revenues
Joy Global’s (JOY) fiscal 1Q16 revenues came in at $526 million, which represents a 25% decline over fiscal 1Q15.
How Much Will Komatsu Pay Joy Global’s Shareholders?
Komatsu, Japan-based construction equipment maker, will pay $28.30 per share in cash to acquire Milwaukee-based Joy Global. The deal is worth ~$3.7 billion.
Understanding Joy Global’s Dividend Policy in Fiscal 3Q16
In fiscal 2015, JOY paid around $78 million in dividends to shareholders, but on December 16, 2015, JOY announced a cut in its quarterly dividend.
What Does Joy Global’s Fiscal 2016 Debt Obligation Tell Us?
As of April 29, 2016, Joy Global’s had more than $1.3 billion in debt (long-term debt plus short-term debt), compared to its equity of nearly $1.4 billion.
Did Joy Global’s Operating Cash Flow Really Improve in Fiscal 2Q16?
Despite the operating loss of $9.8 million it saw in fiscal 2Q16, Joy Global reported cash generation from continuing operations totaling $44 million.