“It’s the biggest agtech deal in history.” That’s how one exec described @AGCOcorp $2B acquisition of an 85% stake in PTx Trimble. But, less than a year later, AGCO wrote down that investment by nearly 18%. In agriculture, M&A is often framed as bold strategy. But more often, it’s just expensive activity. Some data suggests that only ~15% of M&A deals outperform. And ag is no exception— many big acquisitions in the sector have struggled to deliver the promised synergy, returns, or strategic advantage. From Bayer’s Monsanto purchase to Monsanto’s own Climate Corp acquisition, there is a graveyard of unrealized value. But there are exceptions. What separates the value creators from the value destroyers? Check out this week's @UpstreamAg article: M&A in Agriculture: Is the Track Record Any Good?