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Joy Global Jumps on Komatsu's $3.7B Takeover Offer

Shares of Joy Global shares are now up roughly 120 percent so far this year.

Shares of Joy Global (JOY) charged ahead Thursday after the underground-mining equipment manufacturer agreed to be acquired by Japanese manufacturer Komatsu for $3.7 billion, or $28.30 a share, in cash. Joy Global CEO Ted Doheny says the deal is a 'compelling transaction that delivers substantial and certain value to our stockholders as well as expanded options for our customers and employees,' Shares of Joy Global are now up roughly 120 percent for the year.

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