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Caterpillar unit acquires locomotive maker

Caterpillar said its rail-services unit completed the acquisition of locomotive maker Electro-Motive Diesel for $820 million plus a post-closing adjustment estimated at $108 million, The Associated Press reported.

Electro-Motive Diesel, or EMD, was made a subsidiary of Caterpillar’s Progress Rail Services. Caterpillar bought the company from private equity firms Berkshire Partners and Greenbriar Equity Group. The final deal will include a net working capital adjustment.

[New York Times]