Deere & Co. sells its wind unit to Exelon for $900 million
Deere & Co. said Tuesday it would sell its John Deere Renewables unit, including wind farms, to Exelon Corp. in a deal valued at $900 million. Exelon said it's expanding its role in the wind generation business by adding 735 megawatts of wind energy, plus 230 megawatts under development, via the deal. Deere plans to take an after-tax charge of approximately $25 million in its fourth quarter results as part of the sale. Exelon said it would use debt to pay for the deal. Source: Steve Gelsi of Market Watch.
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