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DEERE TO BUY ROAD CONSTRUCTION FIRM

Deere & Co. Thursday said it would buy privately held German company Wirtgen Group for about $4.88 billion to expand its road construction business as farm business continues to slow. Deere said in a statement Wirtgen makes construction equipment used in laying roads and its products would be complementary to Deere’s portfolio. Deere’s sales had taken a hit over the last three years due to sluggish domestic and foreign farm economies. (Reuters)

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