MOLINE, IL – For years, John Deere and Case IH have run nose to nose in a very competitive market.
On June 29, 2017, Officials at Case IH announced that the company is being sold to John Deere Corporation for $1.23 billion. This buyout is tentatively slated to be completed by April 1, 2018.
John Deere will sell off all Case IH products before completely shutting down ALL Case IH operations. Case IH employees will be offered comparable positions with the John Deere Corporation, as positions become available. Any Case IH employees that are not hired by John Deere Corporation will be offered a very handsome severance package by John Deere.
John Deere officials see this as a very strategic financial move as it will eliminate their largest competitor.
John Deere President and CEO, Cyrus MarkCormick III, states that the company is now keeping a close eye on the Caterpillar Corporation as a possible buyout.