Adecoagro Says Tether Submits Bid to Acquire Majority Stake (2)

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.

“This investment is part of Tether’s broader approach to allocating profits into strategic sectors such as financial technology, artificial intelligence, biotech, ...