Namoi Cotton Ltd (AU:NAM) has released an update.
Namoi Cotton Ltd’s board has unanimously recommended shareholders to accept Olam’s $0.75 per share takeover offer, citing a significant premium over historical market prices and the offer’s placement at the high end of the independent expert’s valuation range. The offer, supported by substantial shareholders and backed by proposed remedies for regulatory approval, has been contrasted with a recommendation to reject a competing offer from LDC, priced at $0.67 per share. Shareholders are advised on how to accept the offer before its scheduled closing on October 8, 2024.
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