CANADA – Ag Growth International Inc. (AGI), a renowned equipment supplier, recently announced that it has received and declined an unsolicited proposal to purchase the company.
The announcement came in response to media reports about the proposal, to which AGI commented that it is not its policy to comment on market speculation or rumors.
AGI’s board of directors, in consultation with financial and legal advisers, thoroughly reviewed the non-binding and conditional proposal. They concluded that it was not in the best interests of AGI or its shareholders.
“AGI is not in discussions with any third party, nor is there any agreement, understanding, or arrangement regarding any proposal,” the company stated.
AGI also mentioned that it does not plan to make any further public statements concerning rumors or speculation unless disclosure is required by applicable law.
AGI shares progress on sustainability goals
Meanwhile, AGI has released its 2023 Sustainability Report, highlighting its achievements across various environmental, social, and governance topics.
Paul Householder, president and chief executive officer of AGI, expressed his pleasure in sharing the report, emphasizing the company’s ongoing commitment to support global food security and its progress in various priority areas within AGI’s broader sustainability strategy.
He commended the global employee base for their dedication to advancing the company’s sustainability goals, noting that this collective effort is a hallmark of the One AGI culture being fostered within the organization.
The report highlighted significant progress in several areas, including employee safety, employee engagement, and greenhouse gas (GHG) emissions.
Key achievements include AGI’s contributions to global food security and the United Nations Sustainable Development Goals, a 27% reduction in the lost time incident rate and a 43% reduction in the total recordable incident rate from 2022 levels, and the results of AGI’s first-ever employee engagement survey, which achieved an 89% employee engagement score.
AGI also set a target to reduce GHG emissions intensity by 25% by 2030, compared to the 2021 baseline and issued its first report aligned with the Task Force on Climate-Related Financial Disclosures (TCFD).
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