Caterpillar Agrees to Acquire Weir Oil & Gas: What it Means for Investors
Caterpillar (NYSE: CAT) has signed an agreement to acquire Weir Group's (LSE: WEIR) oil and natural gas division, Weir Oil & Gas, for $405 million in cash. Here's what the deal means for Weir and Caterpillar, and whether investors should consider buying shares of Caterpillar, which are now trading at a 52-week high. When Weir Group announced its 2019 results in April, the company hinted that it was interested in selling its struggling oil and gas business as part of a shift toward becoming a pure-play mining company.