Namoi Cotton Ltd (AU:NAM) has released an update.
Namoi Cotton Ltd’s Independent Directors now unanimously recommend shareholders to accept the revised takeover offer from Olam Agri Australia at an increased price of $0.75 per share, seeing it as superior to the LDC Offer. This revised offer has garnered support from major shareholders and falls within the upper end of the Independent Expert’s valuation range. Namoi will issue supplementary target statements to provide shareholders with formal responses and further information regarding both takeover offers.
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