Kubota acquires AgJunction

10.10.2021

AgJunction Inc., a global provider of advanced guidance, autosteering and autonomy solutions for precision agriculture applications, has entered into a definitive arrangement agreement to be acquired by Osaka, Japan-based Kubota Corporation in an all-cash transaction with a total equity value, on a fully diluted basis, of approximately CAD $91 million.

Under the terms of the agreement, Kubota will acquire AgJunction for CAD $0.75 per common share, representing a premium of approximately 60 percent to the closing price of the common shares on the Toronto Stock Exchange (TSX) on October 7, 2021, the last trading day prior to this announcement, and a 59 percent premium to AgJunction’s 30-day volume-weighted average share price on the TSX. 

The purchase price is all cash and the transaction is not subject to any financing conditions, which provides AgJunction shareholders with an immediate opportunity to realize full liquidity and certainty of value in cash for their investment in AgJunction.
 
AgJunction will seek approval of the transaction by its shareholders at a special meeting expected to be held in November 2021. 
 
 
 
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