Two agreements related to Deere’s purchase of Precision Planting will also be terminated, including the digital collaboration agreement between Deere and The Climate Corp., a division of Monsanto. Also ending is an agreement that would have allowed Ag Leader to expand access to and distribution of certain Precision Planting products and technologies.
According to a report in the Capital Press, Deere & Co. claims CNH Industrial initiated the complaint with the U.S. Dept. of Justice that led to the DOJ's blocking of Deere's acquisition of Precision Planting.
The agreement will provide Ag Leader the technologies and licenses necessary to manufacture and sell the Precision Planting SpeedTube and related technology, including vSet, vDrive, and DeltaForce, once the acquisition of Precision Planting is completed.
At the center of the DOJ’s complaint are two high-speed planting technologies: Precision Planting’s “SpeedTube” and John Deere’s “ExactEmerge.” Both technologies move seed from planter hoppers into the furrow in a fast, controlled manner.
It’s the biggest takeover so far this year and the biggest obstacle the two companies are confronting is getting the merger past regulators around the globe, according to CNN Money.
Monsanto Co. today announced that its Board of Directors unanimously views the Bayer AG proposal as incomplete and financially inadequate, but is open to continued and constructive conversations to assess whether a transaction in the best interest of Monsanto shareowners can be achieved.
Agrimoney.com is reporting that on Monday Bayer revealed it had offered $62 billion in cash for U.S.-based Monsanto, “which would be the biggest foreign takeover by a German group."
Bloomberg reports that Bayer AG is considering purchasing Monsanto Co. in a deal that would create the world's largest seed and farm chemicals supplier.
Over the years, more than a few dealers have told me the best deals they ever made were often the deals they didn’t make. At least a few industry pundits believe this is the case for Monsanto in its failed bid to acquire Syngenta.
Syngenta, thrown onto the defensive after fending off a bid from U.S. rival Monsanto last year, has agreed to a $43 billion bid from ChemChina, in what would be the biggest ever foreign takeover by a Chinese buyer.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at President Trump's tariff reduction on ag equipment, the latest dealer sales forecasts, and how high input costs are keeping farmer sentiment down.
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