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    Jun 1, 2017

    Deere to buy German road construction firm Wirtgen for US$5.2 billion

    Rachit Vats, Reuters

    Deere & Co

    John Deere & Co. Deere & Co , The Canadian Press

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    U.S. based farm and construction major Deere & Co (DE.N) said on Thursday it would buy privately held German road construction company Wirtgen Group for US$5.2 billion, including debt.

    Deere's share rose 1.7 per cent to US$124.55 in premarket trading.

    Wirtgen makes equipment used in laying roads and has a network of company-owned and independent dealers in about 100 countries.

    Deere said the acquisition it will not see any product overlap and that it expects the deal to close in the first quarter of 2018.

    Citigroup was Deere's financial adviser.