Deere & Company and the Climate Corporation say they will contest legal action being taken by the U.S. Justice Department, which is moving to block Deere’s acquisition of Precision Planting, LLC.
Deere and the Climate Corporation, a subsidiary of Monsanto, say they signed a definitive agreement to acquire that equipment business and have fully cooperated with the Justice Department’s antitrust review.
They say their proposed acquisition will help farmers by speeding up the development and delivery of “new precision equipment solutions” to help farmers increase their productivity and yields. They argue competition in precision ag is strong and still growing. Deere says it would keep Precision Planting independent and would invest in more innovation in the company.
Source: brownfieldagnews.com