Farming Company Adecoagro Says Tether Submits Bid to Buy Majority Stake
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Adecoagro SA said stablecoin issuer Tether Holdings SA de CV has submitted a proposal to acquire a majority stake in the South American agricultural and energy production firm, in a transaction valued at around $385 million.
Tether’s investments arm is offering $12.41 a share to increase its stake to above 51%, Luxembourg—headquartered Adecoagro said in a filing Tuesday. The offer is about a 27% premium to Adecoagro’s close share price on Friday. The stock jumped around 11% on Tuesday.