Indian tractor maker presses AGCO to refresh board, consider alternatives [Reuters]
AGCO Corporation (AGCO)
Last agco corporation earnings: 2/6 07:30 am
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Source: Reuters
By Svea Herbst-Bayliss 2 Min Read BOSTON (Reuters) - Tractors and Farm Equipment Limited, the largest investor in AGCO Corp, on Tuesday again pressed the agricultural machinery maker to refresh its board and consider strategic alternatives as it risks falling further behind its rivals. Indian tractor manufacturer Tractors and Farm Equipment, known as TAFE, said in a U.S. regulatory filing that it made a presentation to the company in which it outlined AGCO’s weakening long-term competitive position and urged immediate action. “We believe that material risks exist for AGCO’s shareholders in the inevitable cycle downturn and that the Board should proactively focus on minimizing such risk now,” TAFE, which is AGCO’s largest shareholder with a 16.2% stake, said in the presentation. AGCO was not immediately available for comment. TAFE is calling on the company to appoint three new independent directors to the board, appoint a new lead independent director with strong board experience and
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AGCO
Earnings
- 2/6/24 - Miss
AGCO
Sec Filings
- 4/17/24 - Form SC
- 4/16/24 - Form 8-K
- 4/10/24 - Form SC
- AGCO's page on the SEC website