Caterpillar Inc to move its global headquarters to Chicago from Peoria, Illinois

News Hour:

Caterpillar Inc said on Tuesday it would move its global headquarters to the Chicago area from Peoria, Illinois later this year to move closer to a global transportation hub and make it easier to recruit executives.

A limited number of senior executives and some relocated from Peoria will be based at the new headquarters, and about 300 will be based there once the facility is fully operational, the company said in a statement. The company did not specify the exact location of its new headquarters, reports Reuters.