Namoi Cotton Ltd (AU:NAM) has released an update.
Olam Agri Australia Pty Ltd has raised its takeover offer for Namoi Cotton Limited to $0.75 per share, a move that significantly outbids the previous offer from Louis Dreyfus Company. The revised offer represents a 12% premium over Louis Dreyfus’s bid, signaling Olam Agri’s strong belief in the value and potential of Namoi. This increase is intended to sway Namoi’s board and shareholders towards accepting Olam Agri’s proposition over its competitor.
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