Deere & Company's purchase of Wirtgen Group part of long-range plan and entrance into paving business

摘要

Deere & Company's planned purchase of Wirtgen Group is the culmination of more than a decade of relationship building, the alignment of recent strong financial performances by Deere and a decision by brothers Stefan and Jurgen Wirtgen to exit the family business. The two companies signed a definitive agreement on the all-cash deal that will see Deere purchase the road equipment maker for $4.87 billion. When Wirtgen's debts and other considerations are factored in, the total purchase price jumps to $5.2 billion.