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AGCO CORPORATION COMPLETES $80 MILLION SECURITIES OFFERING

 ATLANTA, May 12 /PRNewswire/ -- AGCO Corporation (NASDAQ: AGCO) announced the completion of an offering of 3,200,000 depositary shares, each representing 1/10 of a share of cumulative convertible exchangeable preferred stock.
 The depositary shares will be traded under the symbol "AGCOZ" on the NASDAQ National Market System.
 The depositary shares were priced at $25 per share, an amount equal to the liquidation preference per depositary share. Dividends on the preferred stock will be payable quarterly commencing Sept. 1, at the rate of 6.5 percent per annum. Shares of the preferred stock are convertible at any time, at the option of the holder, into shares of the company's common stock at a conversion price of $19 per share.
 The offering was increased to 3,200,000 shares from its original filing size of 2,600,000 shares as a result of strong demand. An additional 480,000 shares may be sold for over-allotments in connection with the offering. The offering was managed by Dillon, Read & Co., Inc. and Smith Barney, Harris Upham & Co. Incorporated.
 AGCO is a major distributor and manufacturer of agricultural equipment and related replacement parts in the United States and Canada, offering a full product line, which includes tractors, combines, hay tools, forage equipment and implements.
 -0- 5/12/93
 /CONTACT: Allen W. Ritchie, senior vice president, CFO of AGCO, 404-246-6110/
 (AGCO)


CO: AGCO Corporation ST: Georgia IN: AGR SU: OFR

RA-BN -- AT006 -- 7429 05/12/93 09:36 EDT
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Publication:PR Newswire
Date:May 12, 1993
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