3 weeks ago
Tether, the crypto steadfast down the $140 cardinal dollar USDT stablecoin, made an "unsolicited" connection to get a bulk involvement successful Latin American cultivation commodities shaper steadfast Agrodeco (AGRO).
Submitted connected Feb. 14, the $12.41 per stock connection was to bring to Tether's involvement successful the institution from the existent 19.4% to 51%, according to a Tuesday property release by Adecoagro.
The Adecoagro committee met connected Feb. 16 to sermon the bid and has engaged fiscal and ineligible advisors to find whether accepting the connection aligns with shareholders' interests, the institution said.
Adecoagro's shares jumped 8% premarket to $10.48 successful premarket trading successful New York.
Adecoagro is simply a large subordinate successful South America’s agribusiness assemblage focusing connected sugar, ethanol, dairy, and harvest accumulation and operating crossed Argentina, Brazil, and Uruguay.
Tether's concern connection comes arsenic the institution is expanding beyond its halfway crypto business. The stablecoin issuer said it raked successful $13 cardinal successful nett profits past year.
Read more: Tether's $100M Investment successful LatAm Agriculture Firm May Be a Tokenization Play
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