AgrEvo postpones deal to buy Cargill seed unit

Article Abstract:

Berlin, Germany-based AgrEvo GmbH, a crop biotechnology joint venture of Schering AG and Hoechst AG, is postponing the purchase of Cargill Inc.'s North American seed business over concerns of a recent lawsuit filed against the Minneapolis, MN-based company. Sources said AgrEvo wants to be indemnified by Cargill for all costs or damages associated with the suit filed by Des Moines, IA-based Pioneer Hi-Bred International Inc. The lawsuit, filed in US federal court in Des Moines, accuses Cargill employees of buying bags of Pioneer's hybrid corn seed in a bid to develop similar plants for their own breeding program. Meanwhile, Schering Chief Financial Officer and AgrEvo Supervisory Board Chairman Klaus Pohle said AgrEvo should not pay over $500 million for Cargill's unit.

Comment:

Is postponing the purchase of Cargill Inc's North American seed business over concerns of a recent lawsuit filed against Cargill

Germany, Facilities & equipment, North America, Nursery and Floriculture Production, Seeds, Cargill Inc., Article, AgrEvo GmbH

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New Holland to acquire case in $4.01 billion deal

Article Abstract:

New Holland NV has reached an agreement to acquire Case Corp. for $4.01 billion. The price comes out to $55 per share in cash. The acquisition will form a powerful competitor in the agricultural and construction equipment market to Deere & Co. New Holland is more of a powerhouse in the manufacturing of light equipment. Case specializes in producing and distributing heavy equipment.

Comment:

New Holland to acquire Case Corp. for $4.01 billion

Belgium, Farm & Garden Equipment, Abstract, Agricultural equipment, Construction equipment industry, Case Corp., New Holland N.V.

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Caterpillar to sell its tractor line to Agco Corp

Article Abstract:

Caterpillar Inc. has sold off its tractor production and marketing line to Agco Corp. The move represents Caterpillar's departure from the farm equipment sector after 14 years.

Wheel Tractors, Construction and Related Machinery, Farm machinery and equipment, Caterpillar Inc., CAT, Tractors, AG, AGCO Corp. (Duluth, Georgia)

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