Monsanto has terminated an agreement to sell its Precision Planting farm equipment business to machinery maker Deere, the companies said on Monday, ending a legal fight with antitrust authorities over the deal.
The US Department of Justice last August filed a lawsuit to block the sale, arguing the deal could make it more expensive for farmers to use fast, precise planting technology. The planned sale was originally announced in late 2015. Financial terms were not disclosed.
Monsanto, the world’s largest seed company, and Deere, the biggest US farm equipment manufacturer, had been preparing to argue the case later this year.
“We are deeply disappointed in this outcome as we remain confident the acquisition would have benefited customers,” said John May, President, Agricultural Solutions and Chief Information Officer.
Full Content: AG Web
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – China Edition – Year of the Dragon
Apr 16, 2024 by
CPI
Review Logic and Rules for Concentrations of Undertakings that Do Not Meet the Standard of Notification
Apr 16, 2024 by
CPI
China’s Review of Semiconductor Transactions
Apr 16, 2024 by
CPI
Key Challenges and Tips for Merger Control Filing in China for Listed Companies
Apr 16, 2024 by
CPI
Key Point Review: China SPC Antitrust Judgments in 2023
Apr 16, 2024 by
CPI