Peoria based Caterpillar Inc the world largest maker of heavy equipment, said China regulator had approved its acquisition of US mining equipment firm Bucyrus International, paving the way for the company to complete a deal announced in November.

Caterpillar said the Ministry of Commerce approval followed the US Justice Department recent clearance of the transaction. Caterpillar exposure to commodities including metals and coal will only increase when it closes on its acquisition of Bucyrus.

In November, Caterpillar sealed its position as the world No 1 maker of mining equipment with its purchase of Bucyrus International for USD 7.6 billion, the biggest acquisition in its 85 year history.

(Sourced from www.chicagotribune.com)