LDC acquires Namoi Cotton for 77 cents per share, outbidding Olam Agri's 70 cents offer.
Louis Dreyfus Company (LDC) has gained control of Namoi Cotton by acquiring shares after raising its bid to 77 cents per share, surpassing Singapore's Olam Agri's offer of 70 cents. This competitive bidding process increased Namoi's market value by $50 million, culminating in a valuation of over $159 million. LDC's acquisition is set to close on October 9, with support from Namoi's independent directors, while Olam's involvement was noted for its professionalism.
October 07, 2024
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