“We are
deeply disappointed in this outcome as we remain confident the acquisition
would have benefited customers,” said John May, president of agricultural
solutions and chief information officer.
Last
year the Justice Department said it would block the deal, but Deere and
Monsanto said they were ready to present their case for approval.
May said
the Justice Department’s “challenge to the transaction was based on flawed
assessments of the marketplace.”
Monsanto has, however, been taken over by Bayer AG.
Two
agreements related to Deere’s purchase of Precision Planting will also be
terminated, including the digital collaboration agreement between Deere and The
Climate Corporation, 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.
