Caterpillar Buys Million Shares of Supplier
Caterpillar has exercised a warrant and purchased 1 million shares of rubber-tracked vehicles and components maker ASV at a cost of $21 per share. The Grand Rapids company is a key supplier to Caterpillar and about half of ASV’s sales are to Caterpillar, according to Tom Karges, ASV's chief financial officer. The $21 million infusion will be used to build its dealer network, continue research and
