Market Chatter: Caterpillar Acquires Autonomous Electric Tractor Startup Monarch Tractor

MT Newswires Live04-15

Caterpillar (CAT) has acquired struggling autonomous electric tractor startup Monarch Tractor, Bloomberg reported Tuesday, citing people familiar with the matter.

The green start-up, which has cut staff in recent months, said in a LinkedIn post last week that its core technology had been bought by "a large global equipment manufacturer."

Neither Caterpillar nor Monarch Tractor immediately responded to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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