1401 ET - Agco's settlement of a long-running dispute with its largest shareholder clears the way for the farm equipment maker to buy back its stock for the first time in years. Tractor and Farm Equipment, or TAFE, had refused to participate in share repurchases, analysts say. As a result, TAFE's 16.3% stake in the company would increase if Agco had reduced the rest of the share count through buybacks. Agco has been issuing special dividends to shareholders since 2021. TAFE agrees it will not raise its stake in Agco beyond 16.3% and will participate in Agco's share repurchases, Agco says. TAFE also will relinquish its seat on Agco's board. TAFE's owner and longtime Agco director Mallika Srinivasan was critical of Chairman and CEO Eric Hansotia and urged shareholders repeatedly to strip Hansotia of the chairmanship and appoint new board members. Agco climbs 5%. (robert.tita@wsj.com)

(END) Dow Jones Newswires

July 01, 2025 14:01 ET (18:01 GMT)

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