WINNIPEG — Shares of Ag Growth International Inc. closed up more than 11 per cent Wednesday after the company said it had rejected an unsolicited takeover offer.
AGI shares closed up $5.13, or 11.15 per cent, to $51.15 after climbing to as high as $54 a share.
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)
The Canadian Press
