Caterpillar’s Acquisition of RPMGlobal Advances with ACCC Approval
The Australian Competition and Consumer Commission has given the green light to Caterpillar’s proposed acquisition of RPMGlobal, clearing a major regulatory hurdle. The deal now awaits shareholder and Foreign Investment Review Board approvals.
- ACCC confirms no opposition to Caterpillar’s acquisition scheme
- Clearance satisfies key condition precedent in the deal
- Shareholder vote scheduled for 19 December 2025
- Foreign Investment Review Board approval still pending
- Federal Court hearing set for 3 February 2026
Regulatory Green Light from ACCC
RPMGlobal Holdings Limited (ASX – RUL) has announced a significant development in its proposed acquisition by Caterpillar Inc’s wholly owned subsidiary, Revolution HoldCo Pty Ltd. The Australian Competition and Consumer Commission (ACCC) has formally confirmed it will not oppose the scheme of arrangement, effectively clearing a major regulatory hurdle for the transaction.
This ACCC clearance satisfies a critical condition precedent outlined in the Scheme Implementation Deed signed in October 2025, removing a key source of uncertainty for investors and stakeholders. The ACCC’s decision signals confidence that the acquisition will not substantially lessen competition in the mining software sector, where RPMGlobal is a recognized leader.
Remaining Approvals and Timeline
While the ACCC’s clearance is a pivotal milestone, the acquisition process is not yet complete. The deal remains contingent on several other approvals. RPMGlobal shareholders are set to vote on the scheme at a meeting scheduled for 19 December 2025, a crucial step that will determine whether the transaction proceeds.
Additionally, the Foreign Investment Review Board (FIRB) must grant its approval, ensuring the acquisition aligns with Australia’s national interest considerations. The final legal endorsement is expected from the Federal Court of Australia, with a hearing slated for 3 February 2026 to approve the scheme.
Strategic Implications for RPMGlobal and Caterpillar
The acquisition by Caterpillar, a global industrial heavyweight, promises to integrate RPMGlobal’s mining software expertise with Caterpillar’s extensive resources and market reach. This could accelerate innovation and expand RPMGlobal’s footprint in the mining technology space, potentially delivering enhanced value to mining clients worldwide.
For shareholders, the ACCC’s approval reduces regulatory risk, potentially increasing confidence in the deal’s successful completion. However, the pending shareholder vote and FIRB approval remain critical checkpoints that could influence the transaction’s timeline and final terms.
Bottom Line?
With ACCC approval secured, all eyes now turn to shareholder and FIRB decisions that will ultimately seal Caterpillar’s takeover of RPMGlobal.
Questions in the middle?
- Will RPMGlobal shareholders approve the scheme at the upcoming meeting?
- How might FIRB’s assessment impact the deal’s timing or conditions?
- What strategic changes will Caterpillar implement post-acquisition?
