---
schema_version: "secwatch.filing_event.v1"
accession: "0000880266-23-000060"
form_type: "8-K"
ticker: "AGCO"
cik: "0000880266"
company_name: "AGCO CORP /DE"
filed_at: "2023-09-29T23:59:59+00:00"
generated_at: "2026-06-10T07:16:25.925858+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# AGCO to acquire 85% of Trimble Ag assets for $2B through joint venture; FY 2024 close expected

## Summary
- AGCO to own 85% of JV; $2B cash plus JCA Technologies contributed to Trimble.
- Transaction valued at ~$2.35B enterprise; 13.8x 2023E EBITDA, synergized 8.5x.
- Combined Precision Ag revenue expected >$2B by 2028; accretive to EPS in first full year.
- AGCO secures $2B fully committed bridge financing from Morgan Stanley; closing H1 2024.
- Grain & Protein business placed under strategic review as part of portfolio transformation.

## SEC filing metadata
- accession: 0000880266-23-000060
- form_type: 8-K
- ticker: AGCO
- cik: 0000880266
- company_name: AGCO CORP /DE
- filed_at: 2023-09-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/880266/000088026623000060/0000880266-23-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/880266/000088026623000060/agco-20230928.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000880266-23-000060
- JSON: https://secwatch.observer/filing/0000880266-23-000060.json
- Plain text: https://secwatch.observer/filing/0000880266-23-000060.txt

## Key facts
- Debt Financings
  AGCO CORP /DE incurred credit facility of up to $2 billion with Morgan Stanley Senior Funding, Inc. at at an interest rate equal to, at AGCO's election, a 'Base Rate' plus an 'Applica maturing 364 days after the closing.
  - Instrument: credit facility
  - Principal: up to $2 billion
  - Counterparty: Morgan Stanley Senior Funding, Inc.
  - Rate: at an interest rate equal to, at AGCO's election, a 'Base Rate' plus an 'Applica
  - Maturity: 364 days after the closing
  - Event: incurrence
  source text: To provide for financing in the event that the note issuances are not complete prior to closing, AGCO entered into a commitment letter for a $2.00 Billion Senior Unsecured 364-Day Bridge Facility (the “ Commitment Letter ”) with Morgan Stanley Senior Funding, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/880266/000088026623000060/0000880266-23-000060-index.htm
- Material Agreements
  AGCO CORP /DE entered into Sale and Contribution Agreement with Trimble Inc. valued at AGCO will pay $2 billion in cash, own 85% interest in the Joint Venture; termination fee of $94 mill (effective 2023-09-28).
  - Action: entry
  - Agreement: collaboration
  - Counterparty: Trimble Inc.
  - Value: AGCO will pay $2 billion in cash, own 85% interest in the Joint Venture; termination fee of $94 mill
  - Effective: 2023-09-28
  source text: On September 28, 2023, AGCO Corporation (“ AGCO ”) entered into a Sale and Contribution Agreement (the “ Agreement ”) with Trimble Inc. (“ Trimble ”) and its currently 100%-owned subsidiary Trimble Solutions, LLC (the “ Joint Venture ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/880266/000088026623000060/0000880266-23-000060-index.htm
- Material Agreements
  AGCO CORP /DE entered into Senior Unsecured 364-Day Bridge Facility Commitment Letter with Morgan Stanley Senior Funding, Inc. valued at Up to $2 billion, interest rate (Base Rate or Term SOFR plus Applicable Margin), Duration Fee, matur (effective 2023-09-28).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Morgan Stanley Senior Funding, Inc.
  - Value: Up to $2 billion, interest rate (Base Rate or Term SOFR plus Applicable Margin), Duration Fee, matur
  - Effective: 2023-09-28
  source text: To provide for financing in the event that the note issuances are not complete prior to closing, AGCO entered into a commitment letter for a $2.00 Billion Senior Unsecured 364-Day Bridge Facility (the “ Commitment Letter ”) with Morgan Stanley Senior Funding, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/880266/000088026623000060/0000880266-23-000060-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.