PANews reported on April 25 that according to official news, Tether Investments, a subsidiary of Tether Group, announced the results of its tender offer for Adecoagro SA common stock. The offer to acquire up to 49,596,510 shares of common stock with a par value of $1.50 at a cash price of $12.41 per share expired at 12:00 midnight New York time on April 24, 2025. The custodian of the offer, Computershare Trust Company, NA, has informed Tether that as of the expiration of the offer, a total of 67,075,545 shares of common stock have been validly submitted.
Previously, Tether and Adecoagro announced on March 27, 2025 that they had reached a "Transaction Agreement", which was unanimously approved by the Adecoagro board of directors. According to the agreement, Tether will acquire up to 70% of Adecoagro's outstanding common shares through a tender offer to achieve controlling interest. Tether will accept and acquire 49,596,510 common shares based on the effective deposits at the expiration of the offer. Since the scale of the tender offer subscription exceeds the planned acquisition quantity, Tether needs to allocate shares on a pro rata basis before finally confirming the acquisition. Specifically, Tether will acquire shares based on a certain proportion of the number of valid deposits of each depositing shareholder, and fractional shares less than one share will be rounded off. After calculation, the pro rata allocation coefficient this time is approximately 73.9%. Tether will instruct the depository to pay the purchase price to all shareholders whose deposits are accepted as soon as possible, and at the same time return the common shares that have not been acquired after the pro rata allocation to the corresponding depositing shareholders.