US DoJ seeks to block proposed Deere, Monsanto deal - report

US Department of Justice (DoJ) has filed a lawsuit contesting Deere &Co's planned buy of a line of high-tech farming equipment from Monsanto Co, a report says.

It said the deal, if it went ahead, would have the result of suppressing rivalry for technology that allowed farmers to plant crops at a faster rate, Dow Jones Business News reported.

In November last year, Deere said it had agreed to pony up an undisclosed sum to secure Monsanto's Precision Planting equipment business.

DoJ has claimed that Monsanto's equipment line was a leading innovator in high-speed planting technology. Deere was its only notable competitor.

It filed the lawsuit, which sought a judgement blocking the deal, in an Illinois federal court, the newswire reported.

Both Monsanto and Deere said they would defend their proposed deal.