Federal Court approves Caterpillar acquisition of RPMGlobal

The Federal Court of Australia has approved the acquisition of RPMGlobal (ASX:RUL) by Caterpillar through its subsidiary, Revolution HoldCo.

The deal, executed via a scheme of arrangement, is set to become legally effective tomorrow, Feb. 4, following the lodgement of court orders with ASIC.

As the takeover nears completion, RPMGlobal has requested that its shares be suspended from the ASX at the close of trading tomorrow.

Under the finalised terms, eligible shareholders listed as of Feb. 11 will receive a cash payment of $5 per share, with the full implementation and payout expected to occur on Feb. 18.

At the time of reporting, RPMGlobal's share price was $4.98.