Deere & Co. (DE) Friday said it would buy a 50%stake of Xuzhou Xuwa Excavator Machinery Co. for an undisclosed amount. Xuzhou, a Chinese manufacturer of construction equipment, is a subsidiary ofXuzhou Bohui Science and Technology Development Co. Deere said it was seeking government approval in China for the transaction.
Shares of Deere, a Moline, Ill.-based manufacturer of agricultural andforestry machinery, closed Thursday at $86.97.
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