Deals and IPOs

Deere to buy German road construction firm Wirtgen for $5.2 billion

A John Deere excavator on display at the CONEXPO show in Las Vegas.
Michael Newberg | CNBC

U.S. based farm and construction major Deere said on Thursday it would buy privately held German road construction company Wirtgen Group for $5.2 billion, including debt.

Deere's share rose 1.7 percent to $124.55 in premarket trading.

Wirtgen makes equipment used in laying roads and has a network of company-owned and independent dealers in about 100 countries.

Deere said the acquisition it will not see any product overlap and that it expects the deal to close in the first quarter of 2018.

Citigroup was Deere's financial adviser.