Monsanto calls off sale of precision equipment unit to John Deere

Monsanto Co. has terminated an agreement reached over a year ago to sell its Climate Corp. subsidiary’s Precision Planting agricultural equipment business to Deere & Co., but Monsanto said it still plans to unload the business.

The deal’s closing “has been delayed by Department of Justice concerns with the transaction,” Monsanto officials said Monday. In August 2016, the U.S. Justice Department filed an antitrust suit in federal court in Chicago to block the acquisition, claiming the sale would hurt competition.

Deere and St. Louis-based Monsanto were prepared to present their case for approval of the deal later this year.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch

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