, Singapore
104 views
Photo from Unsplash

Olam Agri will not extend Namoi Cotton takeover offer 

It will close on 8 October.

Olam Agri's Australia unit has decided not to extend its takeover offer for Namoi Cotton past its 8 October closure date.

On 13 September, Olam Agri raised its offer from A$0.70 to A$0.75 per share to acquire Namoi Cotton.

The offer was 12% higher than Louis Dreyfus Company’s (LDC) offer of A$0.67. LDC, however, raised its offer to A$0.77.

"The proposed acquisition led to a robust and competitive process for Namoi Cotton, allowing the company to realise a full and fair valuation for the benefit of all shareholders," Ashish Govil, managing director of Queensland Cotton and country head for Olam Agri Australia, said.

"We thank the Namoi Cotton board, shareholders and all stakeholders who have been supportive of Olam Agri throughout this period," Govil added.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!