Adecoagro Announces Receipt of Unsolicited Proposal
Adecoagro (NYSE: AGRO) has received an unsolicited non-binding proposal from Tether Investments S.A. de C.V. to acquire outstanding Common Shares at $12.41 per share through a tender offer. The proposal, received on February 14, 2025, aims to increase Tether's ownership to 51% of AGRO's outstanding shares. Tether currently holds 19.4% of the company's shares.
The Board of Directors met on February 16, 2025, to discuss the proposal and has decided to engage legal and financial advisors to evaluate whether the offer serves the best interests of all shareholders. The Board will respond in due course, and shareholders are not required to take any action at this time.
Adecoagro (NYSE: AGRO) ha ricevuto una proposta non vincolante e non richiesta da Tether Investments S.A. de C.V. per acquisire le azioni ordinarie in circolazione a $12.41 per azione tramite un'offerta pubblica di acquisto. La proposta, ricevuta il 14 febbraio 2025, mira ad aumentare la partecipazione di Tether al 51% delle azioni in circolazione di AGRO. Attualmente, Tether detiene il 19,4% delle azioni della società.
Il Consiglio di Amministrazione si è riunito il 16 febbraio 2025 per discutere la proposta e ha deciso di coinvolgere consulenti legali e finanziari per valutare se l'offerta serva al meglio gli interessi di tutti gli azionisti. Il Consiglio risponderà a tempo debito e gli azionisti non sono tenuti a intraprendere alcuna azione in questo momento.
Adecoagro (NYSE: AGRO) ha recibido una propuesta no solicitada y no vinculante de Tether Investments S.A. de C.V. para adquirir las acciones ordinarias en circulación a $12.41 por acción mediante una oferta pública de adquisición. La propuesta, recibida el 14 de febrero de 2025, tiene como objetivo aumentar la participación de Tether al 51% de las acciones en circulación de AGRO. Actualmente, Tether posee el 19.4% de las acciones de la compañía.
La Junta Directiva se reunió el 16 de febrero de 2025 para discutir la propuesta y ha decidido contratar asesores legales y financieros para evaluar si la oferta beneficia a todos los accionistas. La Junta responderá a su debido tiempo, y los accionistas no están obligados a tomar ninguna acción en este momento.
Adecoagro (NYSE: AGRO)는 Tether Investments S.A. de C.V.로부터 비공식적인 비구속 제안을 받았습니다. 이 제안은 $12.41 per share로 유통 중인 보통주를 인수하기 위한 것입니다. 2025년 2월 14일에 접수된 이번 제안은 Tether의 AGRO의 유통 주식에 대한 소유권을 51%로 늘리는 것을 목표로 하고 있습니다. 현재 Tether는 회사 주식의 19.4%를 보유하고 있습니다.
이사회는 2025년 2월 16일에 모여 제안에 대해 논의하였고, 모든 주주의 최선의 이익을 위해 제안을 평가하기 위해 법률 및 재정 고문을 고용하기로 결정했습니다. 이사회는 적절한 시기에 응답할 예정이며, 현재 주주들은 아무런 조치를 취할 필요가 없습니다.
Adecoagro (NYSE: AGRO) a reçu une proposition non sollicitée et non contraignante de Tether Investments S.A. de C.V. pour acquérir les actions ordinaires en circulation à $12.41 par action par le biais d'une offre publique d'achat. La proposition, reçue le 14 février 2025, vise à augmenter la part de Tether à 51% des actions en circulation d'AGRO. Actuellement, Tether détient 19,4% des actions de la société.
Le Conseil d'Administration s'est réuni le 16 février 2025 pour discuter de la proposition et a décidé de faire appel à des conseillers juridiques et financiers pour évaluer si l'offre sert au mieux les intérêts de tous les actionnaires. Le Conseil répondra en temps voulu, et les actionnaires ne sont pas tenus de prendre des mesures à ce stade.
Adecoagro (NYSE: AGRO) hat ein unverlangtes, nicht verbindliches Angebot von Tether Investments S.A. de C.V. erhalten, um die ausstehenden Stammaktien zu einem Preis von $12.41 pro Aktie durch ein Übernahmeangebot zu erwerben. Das Angebot, das am 14. Februar 2025 eingegangen ist, zielt darauf ab, Tethers Anteil auf 51% der ausstehenden Aktien von AGRO zu erhöhen. Tether hält derzeit 19,4% der Aktien des Unternehmens.
Der Vorstand hat sich am 16. Februar 2025 getroffen, um das Angebot zu besprechen und hat beschlossen, rechtliche und finanzielle Berater hinzuzuziehen, um zu bewerten, ob das Angebot im besten Interesse aller Aktionäre ist. Der Vorstand wird zu gegebener Zeit antworten, und die Aktionäre sind derzeit nicht verpflichtet, Maßnahmen zu ergreifen.
- Tender offer price of $12.41 per share represents potential immediate value for shareholders
- Company receiving strategic interest indicates market validation of business model
- Potential change in control could lead to strategic uncertainty
- Unsolicited nature of the proposal may indicate lack of alignment with current management's vision
Insights
The unsolicited tender offer from Tether Investments marks a pivotal moment for Adecoagro, with significant implications for the agricultural sector in South America. The proposed
Several key aspects warrant attention:
- The structure as a tender offer for
31.6% additional shares (to reach51% control) provides existing shareholders with optionality while potentially creating a controlled entity with significant minority interests - The timing coincides with increasing strategic interest in South American agricultural assets, driven by global food security concerns and the region's competitive advantages in sustainable agriculture
- The unsolicited nature of the bid could spark competitive interest from other strategic or financial buyers, potentially leading to improved terms
The board's engagement of financial and legal advisors suggests a thorough evaluation process focused on maximizing shareholder value. Key considerations will likely include:
- Valuation adequacy relative to Adecoagro's growth prospects and asset quality
- Potential synergies and strategic benefits of Tether's control
- Protection mechanisms for minority shareholders post-transaction
- Regulatory approvals, particularly regarding foreign investment in strategic agricultural assets
This development could catalyze further consolidation in the South American agricultural sector, where operational scale and sustainable practices increasingly drive competitive advantage. The market's reaction will likely focus on whether the premium adequately reflects Adecoagro's long-term value proposition in an increasingly food-security conscious global environment.
The Board of Directors held a meeting on February 16, 2025 to discuss the terms and conditions of the proposal and decided to engage legal and financial advisors to further assist the Board in its evaluation of the proposal and whether it is in the best interests of all shareholders and the Company. The Board of Directors will respond in due course. The Company's shareholders are not required to take any action at this time.
About Adecoagro:
Adecoagro is a leading sustainable production company in
For questions please contact:
Victoria Cabello
IR Officer
Email: ir@adecoagro.com
No Offer or Solicitation; Additional Information and Where to Find It
The tender offer referenced in this communication has not yet commenced. This announcement is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell securities. The solicitation and offer to buy the Company's securities will only be made pursuant to an Offer to Purchase and related tender offer materials. At the time the tender offer is commenced, Tether will be required to file a tender offer statement on Schedule TO and thereafter the Company will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 WILL CONTAIN IMPORTANT INFORMATION. THE COMPANY'S STOCKHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF THE COMPANY'S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SECURITIES. These materials will be made available to the Company's stockholders at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC's website at www.sec.gov. Copies of the documents filed by the Company with the SEC by will be available free of charge on the Company's internet website at www.adecoagro.com or by contacting the Company's investor relations department at ir@adecoagro.com.
Forward Looking Statements
This release contains information that may constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate," "estimate," "expect," "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. Investors are cautioned not to place undue reliance on forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's Form 20-F for the fiscal year ended December 31, 2023 and subsequent filings with the SEC. The Company may not succeed in addressing these and other risks. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this release.
Participants in the Solicitation
The Company, its directors, certain of its officers, and other employees may be deemed to be "participants" (as defined in Section 14(a) of the Exchange Act of 1934, as amended) in respect of the proposed transaction. Information about the names of the Company's directors and officers, their respective interests in the Company by security holdings or otherwise, and their respective compensation is set forth in the Company's Form 20-F for the fiscal year ended December 31, 2023 which was filed with the SEC on April 26, 2024, and any other relevant documents filed with the SEC.
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SOURCE Adecoagro S.A.
FAQ
What is the price per share offered in Tether's proposal for AGRO stock?
What percentage of AGRO shares does Tether currently own?
What is the target ownership percentage Tether seeks in AGRO through the tender offer?
When did AGRO's Board receive the unsolicited proposal from Tether?
What actions are required from AGRO shareholders regarding the Tether proposal?
