Namoi Cotton Ltd (AU:NAM) has released an update.
Namoi Cotton Limited has issued a First Supplementary Target’s Statement in response to an off-market takeover bid by Louis Dreyfus Company Melbourne Holdings Pty Ltd, aiming to acquire all remaining Namoi shares. Shareholders have been advised by Namoi’s independent directors to accept the offer, barring a superior proposal and contingent on the Independent Expert’s favorable assessment. The document with full details has been made available on Namoi’s website and distributed to shareholders, who can request hard copies if needed.
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