Olam Agri Ends Takeover Bid for Namoi Cotton

Olam Group (SG:VC2) has released an update.

Olam Agri Australia Pty Ltd has announced it will not proceed with its takeover offer for Namoi Cotton Limited, as it has chosen not to waive the offer’s conditions or extend its expiration date beyond 7:00pm, October 8, 2024. Consequently, Namoi shareholders who have accepted the offer will maintain ownership of their shares to trade freely. The takeover developments include Olam Agri’s termination of a share purchase agreement related to a 7.92% stake previously held by Samuel Terry Asset Management.

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