Namoi Cotton Ltd. rejects Louis Dreyfus Co.'s takeover bid, as shareholders consider Olam Agri Holdings' higher offer.
Namoi Cotton Ltd. urges shareholders to reject Louis Dreyfus Co.'s takeover bid, stating the latest offer for the cotton producer is not fair and reasonable. Louis Dreyfus and rival trader Olam Agri Holdings Ltd. have been competing to buy the Australian producer since January. Namoi Cotton's shareholders are being asked to take no action regarding Olam's higher offer, which is under review by the Australian competition regulator.
May 22, 2024
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