Underground compact-equipment maker The Toro Company announced it will acquire its major competitor, Charles Machine Works, for $700 million in cash.

Firm claiming 8A federal contract status was controlled by larger graduate of U.S. Small Business Administration program, the government contends.

After a tumultuous few years at the center of a national corruption scandal, Brazil-based Odebrecht is looking to move on. And despite ongoing investigations, the firm has continued to book work both in Brazil and abroad.