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Lawmakers investigating alleged phantom recall by Johnson & Johnson, in which the company hired a contractor to buy up defective painkillers instead of issuing a recall.

Maker of drugs and medical devices said Tuesday it is buying vascular device maker ev3 for $2.6 billion in cash as it continues to remake its business.

Heavy equipment maker Caterpillar says its railroad service unit will spend $820 million cash to acquire locomotive maker Electro-Motive Diesel.