June 1, 2017 / 10:50 AM / 3 months ago

BRIEF-Deere to acquire the Wirtgen Group

June 1 (Reuters) - Deere & Co:

* Deere to acquire the Wirtgen Group, the global leader in road construction equipment

* Deere & Co - ‍purchase price for equity is EUR4.357 billion in an all-cash transaction​

* Deere & Co says expects transaction to be accretive to earnings per share

* Deere & Co says transaction has been approved by Deere's board of directors

* Deere & Co says plans to maintain Wirtgen group's existing brands, management, manufacturing footprint, employees and distribution network

* Deere & Co says currently expects to fund acquisition from a combination of cash and new equipment operations debt financing

* Deere & Co - ‍total deal value is about EUR4.6 billion (USD 5.2 billion based on current exchange rates), including assumption of net debt, other consideration​ Source text for Eikon: Further company coverage:

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