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Bill Gates buys more Deere stock

A story posted on US Ag Net says Bill Gates has increased his stake in Deere & Company to about seven percent, buying about three million additional shares of the farm equipment maker. Farm Equipment magazine cites a regulatory filing indicating an investment company owned and managed by Gates brought its holdings in Deere & Company to 27.5 million shares.

The company, Cascade Investment, says the purchase “is for investment purposes,” but otherwise offers no clear reason for increasing its stake in Deere.