Deere responds to Justice Department move to block acquisition

Deere & Co. said its proposal to buy Precision Planting, an agricultural equipment and technology company, will increase consumer choice and directly benefit growers, in a response filed on Wednesday to the U.S. Department of Justice's lawsuit to block the acquisition. Deere announced its planned acquisition of Precision Planting in November 2015, for about $190 million. Precision Planting's parent is The Climate Corporation, which is a unit of Creve Coeur-based Monsanto Co. In August, the Justice Department said the proposed deal would mean higher prices for high-speed precision planting equipment, which allows farmers to plant row crops, such as corn, up to twice as fast as with conventional machinery.