AGCO to buy Monsanto’s farm equipment business

Georgia-based agricultural equipment maker AGCO Corp. said on Wednesday it would buy Monsanto Co.’s farm equipment business for an undisclosed amount.

The deal comes after a May decision by Creve Coeur-based Monsanto, the world’s largest seed company, to terminate an agreement to sell the unit, Precision Planting LLC, to machinery maker Deere & Co., amid regulatory pressure.

The U.S. Department of Justice had filed a lawsuit to block the sale, arguing the deal could make it more expensive for farmers to use fast, precise planting technology.

Read more: St. Louis Post-Dispatch

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