MONTREAL, July 26, 2018 /CNW/ - Letko, Brosseau & Associates Inc., an independent investment manager that exercises investment control or direction over approximately 18.6% of the outstanding shares of AGT Food and Ingredients ("AGT" or the "Company") and is the Company's largest shareholder, today announced it intends to vote against the recently proposed management buyout of AGT.
Based on the firm's analysis, the proposed offer significantly undervalues the Company and we remind the Company's board of directors of its duty to consider the interests of all shareholders in reviewing the merits of this offer.
Letko Brosseau is a Canadian independent investment manager founded in 1987. The firm manages approximately $30 billion in assets for institutional investors and private clients.
SOURCE Letko, Brosseau & Associates Inc.