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Bill Gates on buying binge of Deere's stock

MOLINE — Microsoft co-founder Bill Gates' investment firm now owns nearly 6 percent of equipment maker Deere & Co.'s stock.

Gates' investment firm, Cascade Investment LLC, reported to the Securities and Exchange Commission Tuesday that it holds 24.5 million shares of Deere stock after going on a buying binge over the past two months.

Cascade says it spend about $571 million over the past 60 days to buy 7.5 million more shares of the world's largest maker of agricultural equipment.

Investors are required to disclose their stakes when they own more than 5 percent of a company.