Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, October 20, 2023

Article Excerpt

TRIMBLE INC., $48.79, symbol TRMB on Nasdaq, mainly provides advanced GPS positioning systems for auto fleets and other business clients. It also sells connectivity, modeling, analytics and autonomous driving solutions. The company serves a range of industries, including civil engineering, construction, agriculture, natural resources, transportation and government. On September 28, 2023, Trimble announced that it had entered into a joint venture with AGCO Corporation (symbol AGCO on New York) to build a global leader in mixed fleet smart farming and autonomy solutions. Trimble will contribute its precision agriculture business except for its Global Navigation Satellite System (GNSS) and related guidance technologies. AGCO will contribute its JCA Technologies business, which develops autonomous software for agricultural machines and equipment. Trimble receives $2 billion in pre-tax cash from AGCO and a 15% interest in the joint venture. The transaction values the entire Trimble Ag business at $2.35 billion. As part of the transaction, Trimble will provide the joint venture with GNSS and guidance technologies over the long term;…