New Holland and the Ag Equipment Group Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : New Holland and the Ag Equipment Group

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Michael Burry who wrote ()	8/7/1999 8:54:00 PM
From: kendall harmon	of 113

AG-more from earlier in the year May 27 There's nothing to the week-old rumors that AGCO is a takeover target by a European firm, Tony Solon, an AGCO representative, told @griculture Online. But talk that AstraZeneca will get out of the agricultural chemical business appears to have the makings of a real deal. A recent Business Week article reported that a “European conglomerate” was considering a $24 per share offer for AGCO. The article sparked interest in AGCO's stock and led to further speculation in the press this week about the company's future. Internet rumors identified the European company as Renault. But there is skepticism in France about the complementary features of the two companies. “It is possible to think that Renault could buy a part of AGCO (Fendt or Massey), but surely not the whole company,” said an editor with the French farm magazine, La France Agricole. George Dahlman, an analyst with Piper Jaffray, commented that the lack of followup news on the AGCO story would appear to dispel the merger rumor. But he pointed out that the farm machinery industry continues to be ripe for consolidation. “This is a tough industry right now.... It has all the right conditions for when a company can be vulnerable to a takeover--it's a depressed industry, but will recover due to its cyclical nature.” agriculture.com So if there is nothing to the rumors why are they resurfacing and why is there so much institutional interest?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next