Louis Dreyfus Company raises Namoi Cotton takeover bid to 60 cents per share, surpassing Olam Group's 59 cents offer, with Samuel Terry Asset Management's support.
Louis Dreyfus Company has increased its takeover bid for Australian cotton processor Namoi Cotton to 60 cents per share, topping Olam Group's previous offer of 59 cents per share. The new bid, valued at $125 million, has gained the support of Namoi's largest shareholder, Samuel Terry Asset Management. The Louis Dreyfus bid is subject to Foreign Investment Review Board and Australian Competition and Consumer Commission approvals.
April 29, 2024
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