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MONSANTO SCRAPS PRECISION PLANTING DEAL

Monsanto Monday said it terminated an agreement to sell its Precision Planting LLC business to John Deere. The change in plans will end a legal fight with antitrust authorities over the proposed sale. “We just didn’t see that there was a clear path going forward, that the DOJ was going to approve the transaction,” said Michael Stern, CEO of Climate Corporation, the Monsanto subsidiary that runs Precision Planting. “We have a valuable business and people in limbo and it was just time to move on.” (Reuters)

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