June 13th, 2024

Ag Growth International shares jump after rejecting unsolicited takeover offer

By The Canadian Press on May 29, 2024.

Shares of Ag Growth International Inc. were up 15 per cent in early trading after the company said it had rejected an unsolicited takeover offer. Storage silos are shown in Niantic, Ill. in a Thursday, Oct. 23, 2014 file photo.THE CANADIAN PRESS/AP/Seth Perlman

WINNIPEG – Shares of Ag Growth International Inc. were up 15 per cent in early trading after the company said it had rejected an unsolicited takeover offer.

AGI shares were up $7.00 at $53.02 on the Toronto Stock Exchange on Wednesday.

The company did not identify who made the non-binding and conditional proposal to purchase the company, but said it determined the bid was not in the best interests of AGI or its shareholders.

AGI said it is not in talks with any third party, nor is there any agreement with respect to any proposal.

AGI makes farm equipment such as grain handling equipment and storage bins as well as steel buildings and structures.

The company has manufacturing facilities in Canada, the United States, Brazil, India, France and Italy.

This report by The Canadian Press was first published May 29, 2024.

Companies in this story: (TSX:AFN)

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