Deere & Co. responded to the Dept. of Justice’s complaint to the Deere’s acquisition of Precision Planting. Here are a few key points from the response as supplied by Racepoint Global, an international public relations and marketing firm:
•The case is designed to protect a competitor, not competition: The DOJ initially cleared Deere’s acquisition of Precision Planting. However, a competitor to Deere protested, and the DOJ opened a new investigation and filed a lawsuit in an attempt to block the sale.
•An incorrect interpretation of the market is jeopardizing options for growers: Deere disagrees with the DOJ defining high speed precision planting as a distinct market from other planting equipment used by growers. Planting speed is only one factor growers consider when looking for ways to lower their production costs and increase yield. Growers look to a wide range of other options throughout the entire crop production cycle.
•The Deere-Precision Planting deal would create more choices for growers and increase access to technology: The acquisition of Precision Planting would increase customers’ choices and access to retrofit options for many equipment brands and earlier models of planters in addition to the integrated, new equipment Deere makes. Adding Precision Planting’s retrofit offering to Deere’s existing integrated solutions will make a wider range of planting and precision agriculture solutions available to an increased number of customers at a variety of price points to better suit the growers’ various budgets. Deere’s resources and complementary capabilities will help the Precision Planting team bring new, innovative solutions to market quickly.
To view the summary section directly from the Deere’s response filed with the court click here.