The battle between Indian tractor major Tractors and Farm Equipment (TAFE) and the US based AGCO Corporation over Massey Fergusontrademark has taken a fresh turn with TAFE writing a letter to shareholders of AGCO, raising concerns about the company management and called for a “restructured and more empowered Board”.
In response to this, AGCO said in a statement that the Chennai-based company’s interests were “misaligned” with the US giant’s other stakeholders and it is a “self-serving campaign” that TAFE is running. TAFE owns approximately 16.3 per cent of AGCO’s outstanding shares.
The public spat comes a day after TAFE
