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Toromont to buy Quebec-based Hewitt heavy equipment business

Industrial equipment company Toromont Industries Ltd. (TSX:TIH) has a friendly deal to buy the Hewitt Group of Pointe Claire, Que., for a combination of cash and shares worth about $1.02 billion.

The transaction will combine two of Canada's largest heavy equipment distributors and expand Toromont's network of Caterpillar dealerships.

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