Why Did 99.88% of RPMGlobal Shareholders Approve Caterpillar’s Takeover?
RPMGlobal shareholders have decisively approved the proposed acquisition by Caterpillar’s subsidiary, marking a pivotal step toward finalising the deal pending regulatory and court approvals.
- 99.88% shareholder vote in favour of the acquisition scheme
- Scheme approval subject to Foreign Investment Review Board and Federal Court clearance
- Federal Court hearing scheduled for 3 February 2026
- Scheme expected to become effective on 4 February 2026
- RPM shares to be suspended from ASX trading upon scheme implementation
Shareholder Approval Secures Key Milestone
RPMGlobal Holdings Limited (ASX – RUL) has achieved a crucial milestone in its proposed acquisition by Revolution HoldCo Pty Ltd, a wholly owned subsidiary of Caterpillar Inc. At the Scheme Meeting held on 19 December 2025, an overwhelming 99.88% of votes cast by shareholders supported the scheme of arrangement, signaling strong investor confidence in the transaction.
This decisive endorsement follows the announcement of the acquisition plan in October and reflects broad shareholder alignment with the strategic rationale behind the deal. The scheme resolution passed comfortably, with 96.90% of shareholders present and voting at the meeting also in favour.
Next Steps – Regulatory and Judicial Approvals
Despite the strong shareholder backing, the acquisition remains contingent on several important conditions. The Foreign Investment Review Board (FIRB) must grant regulatory approval, ensuring the transaction aligns with Australia’s national interest considerations. Additionally, the Federal Court of Australia is scheduled to hold a hearing on 3 February 2026 to consider the scheme’s approval.
If these conditions are satisfied, the scheme is expected to become effective on 4 February 2026, with the formal implementation slated for 18 February 2026. Upon implementation, RPMGlobal shares will be suspended from trading on the ASX, marking the transition of ownership to Caterpillar.
Strategic Implications for RPMGlobal and the Mining Software Sector
The acquisition by Caterpillar, a global leader in heavy equipment and mining solutions, positions RPMGlobal to leverage enhanced resources and market reach. RPMGlobal’s expertise in mining software solutions complements Caterpillar’s portfolio, potentially accelerating innovation and integration within the mining lifecycle.
For investors, the transaction represents a significant shift in RPMGlobal’s corporate trajectory, with potential benefits from Caterpillar’s global scale and capital backing. However, the pending regulatory and court approvals introduce an element of uncertainty that market participants will watch closely in the coming weeks.
Bottom Line?
With shareholder approval secured, all eyes now turn to regulatory and court decisions that will determine the future of RPMGlobal’s ownership.
Questions in the middle?
- Will the Foreign Investment Review Board approve the acquisition without conditions?
- Could the Federal Court impose modifications or delay the scheme’s approval?
- What strategic changes might Caterpillar implement post-acquisition?