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Joy acquired a 41% stake of IMM in July last year for about $US585 million and in the first week of this year launched an offer for the remaining 399.7 million shares at 8.50 Hong Kong dollars per share ($A1.10).
Joy said it would pay about $420 million aggregate consideration for IMM stock and options and the acceptances to its offer had reached 97.7%.
While the deal has been extended to February 10, Joy will have a big enough stake to trigger a compulsory acquisition.
IMM is considered to be a leading designer and manufacturer of underground mining equipment in China.
