Adecoagro was reduced to a lower performance than Bofa after the conclusion of the tender

Boffa lowered Adecoagro (Agro) to subperform of neutral with a Price target Of $ 10.80, below $ 12, after the company announced the result of the tenderer of Tether Investments, which was agreed on March 27. Tether will acquire 49.6 million shares for $ 12.41 per action, reaching a 70% participation in Adecoagro, said the firm. The reduced objective of the company reflects the risk of lower liquidity of shares with a 30% float and uncertainty regarding the long -term teter investment strategy as a company control shareholder, according to the analyst, explains the investors.

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