Competitive Strategy in a Global Industry Joy Global faces Caterpillar’s Acquisition of Bucyrus

Mike Sutherlin, CEO of Joy Global Inc. (“JOY”), a global mining equipment manufacturer, was having lunch, in downtown Milwaukee, Wisconsin, with his wife, in November of 2010 when his cell phone began ringing. He hesitated answering, but recognizing the name, picked up to hear surprising news. It was a courtesy call from a friend at Caterpillar Inc. (“CAT”), the $85 Billion USD juggernaut, letting him know that CAT had just purchased JOY’s cross town rival, Bucyrus International, Inc. (“BI”), for $8.8B USD. Joy Global, MBA Candidate Carlos E. Fonseca prepared this note under the supervision of Professor Ismael Oliva B. This case was developed for class discussion and is not intended to be an endorsement, source of primary data or an example of effective or ineffective management.