MOLINE (dpa-AFX) - Deere & Co. (DE) announced Tuesday that it will review strategic options for its irrigation operations known as John Deere Water and has retained Bank of America Merrill Lynch as exclusive financial advisor to assist in the initiative.
Deere said no formal decisions have been made and no agreements have been reached concerning the company's irrigation operations.
Deere noted that effective water management remains an important part of agriculture worldwide. The company will continue to develop and offer products and services to help customers better manage agronomic activities in the field.
While Deere will assess strategic options for its irrigation operations, it remains committed to further enhancing products such as its in-field moisture sensing and climate monitoring system known as John Deere Field Connect - one of several elements in the company's John Deere FarmSight strategy.
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