The RPMGlobal Holdings Ltd (ASX: RUL) share price has jumped 22% after a takeover offer from Caterpillar Inc (NYSE: CAT).
RPMGlobal provides software for mining companies to be as efficient as possible in mining and finding deposits.
Takeover offer for RPMGlobal shares
RPMGlobal announced to the ASX today that it has entered into an exclusivity deed with Caterpillar after receiving a non-binding indicative proposal to buy all of RPMGlobal shares and options on issue for $5 cash per share.
The offer implies a market capitalisation of $1.1 billion in value. It’s a premium of 32.6% to the last closing RPMGlobal share price of $3.77 and 14.6x the software annual recurring revenue (ARR) of $71.8 million.
This follows the board’s decision to run a structured process which was started in response to receiving a lot of interest from global strategic buyers and financial sponsors that occurred after completing the sale of its advisory division on 2 April 2025.
through that process, RPMGlobal engaged with a number of interested parties, including Caterpillar. It provides parties with access to a range of information, including management guidance for FY26 that was released to the market on 26 August 2025.
The company’s response
The board has unanimously agreed to grant a period of exclusivity to facilitate Caterpillar’s due diligence process and to enable the parties to negotiate in good faith towards a takeover.
Exclusive due diligence has been granted for a period of six weeks, while RPM and Caterpillar have entered into a confidentiality agreement.
RPMGlobal said it would continue to keep the market informed of any important developments, though it noted that there’s no certainty the proposed transaction will result in a binding transaction.
The ASX share said that shareholders don’t need to take any action.
Final thoughts on the RPMGlobal share price
The RPMGlobal share price is still trading at a discount of more than 7% to the offer price. It’s not certain the offer will go ahead, though it’s also possible that Caterpillar could increase the bid to get it across the line with shareholders.
I’d be happy as a long-term shareholder, though it’ll be a sad day to lose the business from the ASX boards.
There are plenty of other ASX growth shares that could be good investments today.
