Olam Group Advances in Takeover Bid for Namoi Cotton

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

Olam Group Limited has updated stakeholders with news of its non-binding indicative offer (NBIO) to acquire all shares of Namoi Cotton Limited, which has been acknowledged by Namoi and supported by its largest shareholder, Samuel Terry Asset Management. This major shareholder, holding a 22.37% interest, intends to vote in favor of Olam’s proposal, considering it superior to the existing offer from Louis Dreyfus Company Asia. However, shareholders are cautioned that the transaction is still not guaranteed and are advised to act prudently with their shares.

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