Tether Proposes Majority Stake Acquisition in Agribusiness Adecoagro
Tether, the issuer of the USDT stablecoin, proposed to acquire a majority stake in Agrodeco (AGRO), an agricultural commodities producer in Latin America. The unsolicited offer submitted on February 14 values shares at $12.41, aiming to increase Tether's ownership from 19.4% to 51%.
Key points:
- The Adecoagro board discussed the bid on February 16 and engaged advisors to assess alignment with shareholder interests.
- Adecoagro's shares rose by 8% to $10.48 in premarket trading following the news.
- Adecoagro operates in sugar, ethanol, dairy, and crop production across Argentina, Brazil, and Uruguay.
- Tether reported $13 billion in net profits last year, indicating expansion beyond its core crypto business.