Deere shares rise on deal to buy German road construction company

June 4, 2017 at 4:24AM
FILE - In this Monday, Aug. 31, 2015, file photo, John Deere equipment is on display at the Farm Progress Show in Decatur, Ill. Deere & Co. reports earnings, Friday, May 19, 2017. (AP Photo/Seth Perlman, File)
Deere & Co. will buy road-equipment maker Wirtgen Group to help expand the company’s reach. (The Minnesota Star Tribune)

Road work: Deere & Co. shares rose 3.1 percent to $126.29 Thursday after the firm said it would buy German company Wirtgen Group for about $4.88 billion. The purchase would expand its road construction operations and offset slowing farm business. Shares closed Friday at $124.91.

Bagged: Michael Kors Holdings rose 9.2 percent to $32.96 Wednesday after the luxury retailer said it will close up to 125 stores as sales have remained weak. The stock closed Friday at $33.05.

Energy link: Offshore drilling contractor Atwood Oceanics shares rose 28 percent to $10.31 Monday after the company agreed to be bought by Ensco PLC for $10.72 in stock, or $863 million. Atwood closed the week at $10.13. U.K.-based Ensco, which slipped 2.1 percent, to $6.56 Monday, finished the week at $6.14.

Data deal: E-commerce company First Data said it will buy payment processing firm CardConnect for $15 a share in cash, or about $468 million. CardConnect's stock, which climbed 10 percent to $15 on news of the deal Monday, closed Friday at $15.12. First Data shares closed the week at $17.98, after rising 1.1 percent, to $16.82 Monday.

Upbeat connection: Cloud-based incentives company Xactly rose 16 percent to $15.55 Monday after it agreed to be taken private by Vista Equity Partners in a deal that values it at $15.65 a share, or $499 million. Its shares closed Friday at $15.65.

Looking up: Chipmaker Analog Devices jumped 6.7 percent Wednesday to $90.40 after reporting earnings that were much higher than analysts were expecting. Shares closed the week at $80.91.

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David Joles/The Minnesota Star Tribune

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