Lindsay Corp. (LNN) has shared an update.
In a strategic move to expand its agricultural technology offerings, a company has inked a deal to purchase a 49.9% stake in Pessl Instruments, an Austrian firm renowned for its innovative field monitoring systems. This acquisition not only diversifies the buyer’s portfolio but also comes with an option to fully acquire Pessl based on its future performance. The completion of this deal, expected in the latter half of fiscal 2024, hinges on meeting standard closing conditions and obtaining regulatory go-aheads.
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