AGCO Corp Sees Ownership Filing Amendment

TL;DR

AGCO Corp 13D/A filed, ownership update from SRINIVASAN MALLIKA/TRACTORS AND FARM EQUIPMENT LTD.

AI Summary

On September 30, 2024, AGCO Corporation filed an amendment (No. 19) to its Schedule 13D. This filing indicates a change in the reporting of beneficial ownership. The filing is made by SRINIVASAN MALLIKA, associated with TRACTORS AND FARM EQUIPMENT LIMITED, located in CHENNAI, India.

Why It Matters

This amendment to a Schedule 13D filing signals a potential shift in significant beneficial ownership, which could influence market perception and trading activity for AGCO Corporation's stock.

Risk Assessment

Risk Level: medium — Schedule 13D filings, especially amendments, can indicate significant changes in major shareholder positions, potentially impacting stock price and corporate strategy.

Key Numbers

• Amendment No. 19 — Filing Amendment Number (Indicates the extent of previous filings and updates.)
• September 30, 2024 — Date of Event (The date triggering this filing.)

Key Players & Entities

• AGCO CORP /DE (company) — Subject Company
• SRINIVASAN MALLIKA (person) — Filing Person
• TRACTORS AND FARM EQUIPMENT LIMITED (company) — Associated Entity
• Andrew M. Freedman (person) — Authorized Representative
• Dennis Hranitzky (person) — Authorized Representative

FAQ

Key Financial Figures

• $585,803,125.51 — . The Reporting Persons paid a total of $585,803,125.51 (exclusive of brokers’ commission

Filing Documents

• e663925_sc13da-agco.htm (SC 13D/A) — 115KB
• exhibit-h.pdf (SC 13D/A) — 184KB
• 0001193805-24-001187.txt ( ) — 370KB

Security

Item 1. Security and Issuer This Schedule 13D relates to shares of the common stock (the “Common Stock”) of AGCO Corporation (“AGCO” or the “Issuer”), the principal executive offices of which are located at 4205 River Green Parkway, Duluth, Georgia 30096.

Source and

Item 3. Source and Amount of Funds or Other Consideration Except for the 23,713 shares that Ms. Srinivasan (together with the Companies (as defined below), the “Reporting Persons”) holds directly and that were awarded to her under the AGCO Corporation 2006 Long-Term Incentive Plan for her services as a director of the Issuer, the source of the funds used by the Reporting Persons to purchase the reported shares, pursuant to the Purchase Plans, was the working capital of Tractors and Farm Equipment Limited (“TAFE”) or of TAFE Motors and Tractors Limited (“TAFE Motors and Tractors” and, together with TAFE, the “Companies”). The Reporting Persons paid a total of $585,803,125.51 (exclusive of brokers’ commissions and other administrative costs) to purchase the reported shares. Ms. Srinivasan did not pay for the shares that were awarded to her under the AGCO Corporation 2006 Long-Term Incentive Plan.

Purpose

Item 4. Purpose of Transaction.

of the Schedule 13D is

Item 4 of the Schedule 13D is hereby further amended and supplemented by adding the following: On September 30, 2024, TAFE issued a press release and open letter to the Issuer’s shareholders (the “September 30 Letter”), in which TAFE expressed its concerns with the Issuer’s ongoing governance, capital allocation, operational and strategic shortcomings. In the September 30 Letter, TAFE noted that, despite its efforts to constructively engage with the Issuer to resolve its concerns, the Issuer has continued to disregard TAFE’s suggestions aimed at improving the Issuer’s operational performance, strategic execution, capital allocation policies and corporate governance. TAFE also highlighted the Issuer’s declining financial performance, loss of market share and failure to effectively compete with peers in the agricultural machinery industry. TAFE further expressed its belief that the Board’s lack of relevant expertise and leadership in corporate governance, capital allocation and strategic transformation, coupled with the entrenched leadership structure of a combined Chairman and CEO, has exacerbated the Issuer’s challenges. TAFE outlined in the September 30 Letter how it has provided many pragmatic suggestions over the years to the Board and management to put the Issuer on the right path for shareholder value creation. For example, in 2021 TAFE proposed a number of changes that have positively impacted shareholders, including the globalization of key products, a review and rationalization of the Issuer’s manufacturing footprint – including a scale-down of its China operations – and the ultimate sale of the Grain & Protein business. However, the Issuer’s execution on many of these initiatives has been slow and incomprehensive, while many of TAFE’s recommendations remain unaddressed. Rather than engage constructively with TAFE, the Board has taken measures to disenfranchise TAFE and is

Interest in Securities

Item 5. Interest in Securities of the Issuer (a) The aggregate percentage of shares reported owned on this Schedule 13D is based on 74,642,303 shares of Common Stock outstanding as of August 2, 2024, which is the total number of shares of Common Stock outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024. As of the date hereof (i) TAFE beneficially owned 12,150,152 shares of Common Stock, which constituted approximately 16.3% of the Common Stock outstanding (ii) TAFE Motors and Tractors beneficially owned 3,263,321 shares of Common Stock, which constituted approximately 4.4% of the Common Stock outstanding and (iii) Ms. Srinivasan beneficially owned 12,173,865 shares of Common Stock, which constituted approximately 16.3% of the Common Stock outstanding, including the 23,713 shares she holds in her individual capacity. Ms. Srinivasan disclaims beneficial ownership of the Common Stock beneficially owned by each of the Companies, and this report shall not be deemed an admission that Ms. Srinivasan is a beneficial owner of such shares for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934 or for any other purpose. Each of the Companies disclaims beneficial ownership of the 23,713 shares of Common Stock owned directly by Ms. Srinivasan in her individual capacity, and this report shall not be deemed an admission that either of the Companies is a beneficial owner of such shares for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934 or for any other purpose. TAFE Motors and Tractors disclaims beneficial ownership of the 8,886,831 shares of Common Stock purchased on behalf of TAFE under the Purchase Plans, and this report shall not be deemed an admission that TAFE Motors and Tractors is a beneficial owner of such shares for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934 or for any other purpose. 6 CUSIP No. 001084102 (b) For ea

Material to Be Filed

Item 7. Material to Be Filed as Exhibits Exhibit A* Persons through whom Amalgamations Private Limited (“Amalgamations”) may be deemed to control the Companies Exhibit B* Directors and Executive Officers of the Companies Exhibit C* Directors and Executive Officers of Amalgamations Exhibit D** Amended and Restated Letter Agreement, dated April 24, 2019, between Tractors and Farm Equipment Limited and AGCO Corporation Exhibit E*** Limited Power of Attorney, dated as of July 24, 2024 Exhibit F**** Joint Filing Agreement, dated as of April 3, 2013 Exhibit G***** Amendment No. 1 to the Amended and Restated Letter Agreement, effective April 24, 2024, between Tractors and Farm Equipment Limited and AGCO Corporation Exhibit H September 30 Letter * Included by reference to Amendment No. 17 to this Schedule 13D, filed with the SEC on April 27, 2024. ** Included by reference to Amendment No. 10 to this Schedule 13D, filed with the SEC on April 26, 2019. *** Included by reference to Amendment No. 18 to this Schedule 13D, filed with the SEC on August 6, 2024. **** Included by reference to the initial filing of this Schedule 13D, filed with the SEC on April 9, 2013. ***** Included by reference to Exhibit 10.1 to Issuer’s Form 8-K, filed with the SEC on April 16, 2024. 7 CUSIP No. 001084102 SIGNATURE After reasonable inquiry and to the best of his or its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: September 30, 2024 TRACTORS AND FARM EQUIPMENT LIMITED By: /s/ Andrew M. Freedman Name: Andrew M. Freedman, attorney-in-fact* TAFE MOTORS AND TRACTORS LIMITED By: /s/ Andrew M. Freedman Name: Andrew M. Freedman, attorney-in-fact* /s/ Andrew M. Freedman Andrew M. Freedman, attorney-in-fact for Mallika Srinivasan* * This Amendment No. 19 to Statement on Schedule 13D was executed by Andrew M. Freedman as Attorney-In-Fact for T

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