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www.rockproducts.com ROCK products • August 2016 • 7 Joy Global announced on July 21 that its board of directors unanimously approved a definitive merger agreement wherebyKomatsu America Corp. will acquire Joy Global in a transaction valued at about $3.7 billion. Under the terms of the agreement, Joy Global stockholders will receive $28.30 per share in cash for each outstanding share of common stock held, representing a 48 percent premium to Joy Global's shareholders. Komatsu intends to operate Joy Global as a separate subsidiary and retain Joy Global's brand names. The companies will align the organization and operation for optimal customer support from Joy Global's headquarters in Milwaukee. Komatsu said Joy Global's products and services are highly complementary and the combined organization will continue to focus on safety, productivity and life cycle cost improvement for customers. Komatsu plans to leverage both com- panies' leading technologies to pursue product and service innovation to enhance mine safety and productivity. The companies also employ complemen- tary strategies and are committed to an integrated direct sales and service model. "We believe this is the right partnership to meet the evolving needs of our custom- ers while furthering our ability to lead the mining industry with game-changing technologies and best-in-class products," said Ted Doheny, president and CEO of Joy Global. "Joy Global's board of directors, in making its determination, considered the challenging market conditions the com- pany believes are likely to persist." FAST FACT Komatsu intends to operate Joy Global as a separate subsidiary of Komatsu and retain Joy Global's brand names. Komatsu to Merge with Joy Global The transaction is subject to cus- tomary closing conditions, including approval by Joy Global stockholders, the expiration or termination of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and regulatory approvals in certain other jurisdictions. The transaction is expected to close by mid-2017. ROLLER CHAINS • ENGINEERING CLASS CHAINS • CAM CLUTCHES • SPROCKETS • CABLE & HOSE CARRIERS • PT COMPONENTS ROLLER CHAINS • ENGINEERING CLASS CHAINS • BACKSTOPS • SPROCKETS • CABLE & HOSE CARRIERS • POWER TRANSMISSION PRODUCTS U S T S U B A K I . C O M Total Package TSUBAKI. BRANDED TOUGH! TSUBAKI BRAND BACKSTOPS WILL LEAVE A LASTING IMPRESSION ©2016 U.S. Tsubaki Power Transmission, LLC All Rights Reserved. With a reputation built on quality, durability, reliability, and service & support, it's no wonder why the leading global companies insist on using Tsubaki products. We've been making our mark with Tsubaki backstops for over 50 years and we know what is at stake when it comes to your operation. In the most critical applications and toughest environments, Tsubaki backstops will keep your application running at its best. So make the choice you won't regret, get Tsubaki Tough.