Namoi Cotton Ltd (AU:NAM) has released an update.
Namoi Cotton Limited acknowledges Olam Agri Holdings Limited’s revised proposal to acquire all issued shares of Namoi at an increased offer of $0.70 per share, a notable premium over previous market prices and a competing offer from Louis Dreyfus Melbourne Holdings. Samuel Terry Asset Management, a major shareholder, intends to accept this offer, barring a better one. Namoi advises its shareholders to await further details before taking action regarding both Olam’s and LDC’s offers.
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