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DEERE & COMPANY ANNOUNCES PLANS FOR PUBLIC OFFERING OF 7 MILLION SHARES OF COMMON STOCK

 MOLINE, Ill., Sept. 1 /PRNewswire/ -- Deere & Company (NYSE: DE) today announced plans to make a domestic and international public offering of seven million shares of its common stock. Under the proposal, an over-allotment option for another 15 percent of the shares offered would be granted to the underwriters of the offering.
 The offering is expected to be made during the latter part of September and will be lead managed by Merrill Lynch & Co. and co-managed by Goldman, Sachs & Co. The shares of common stock will be offered under a shelf registration statement declared effective by the Securities and Exchange Commission in July. The company currently has approximately 77 million shares of common stock outstanding.
 The net proceeds will be added to the general funds of the company and will be used for working capital and general corporate purposes, including the possible reduction of indebtedness.
 Deere & Company's common stock is listed under the symbol "DE" on the New York Stock Exchange, Chicago Stock Exchange and Frankfurt (Germany) Stock Exchange.
 Deere & Company and its subsidiaries manufacture, distribute and finance a full range of agricultural equipment; a broad range of industrial equipment for construction, forestry and public works; and a variety of lawn and grounds care equipment. The company also provides credit, health care and insurance products for businesses and the general public.
 -0- 9/1/93
 /CONTACT: Robert J. Combs of Deere & Company, 309-765-5014/
 (DE)


CO: Deere & Company ST: Illinois IN: MAC SU: OFR

SH -- NY015 -- 7816 09/01/93 09:24 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
Words:251
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