Joy Global Inc. (1.1%) (JOY – $28.00 – NYSE) (NYSE:JOY) is a mining equipment company based in Milwaukee, Wisconsin. Joy Global manufactures mining equipment for the extraction of metals and minerals and also provides clients with the servicing of this machinery. On July 21, 2016, Komatsu entered into a $28.30 cash per share merger with Joy, valued at $2.8 billion. Shareholders already approved the deal and regulatory approvals are pending in various jurisdictions. The deal is expected to close in mid-2017.
From Mario Gabelli (Trades, Portfolio)'s ABC Fund fourth quarter 2016 commentary.