Caterpillar Inc. said it will buy mining giant Bucyrus International Inc. for about $7.6 billion as the heavy-equipment giant looks to bolster its mining-equipment production.
–“Caterpillar to Buy Bucyrus”; Wall Street Journal (11/15/2010)
What do corporations do when the price of metals — both base and precious — double and triple?
Or, in the case of Caterpillar, buy a company that makes digging equipment.
Call it the Levi Strauss strategy: there’s as much (or more) money to be made selling supplies and equipment to the gold diggers, as there is in digging for gold.