Olam lobs $122m bid in takeover war for Namoi Cotton
Brad ThompsonReporter
Singapore-based Olam has lobbed a $122 million takeover offer for Namoi Cotton, setting the stage for a showdown with French agribusiness giant Louis Dreyfus over strategic food and fibre infrastructure in Queensland and NSW.
Olam, which already owns Queensland Cotton, revealed on Thursday that it made a cash offer valuing Australia’s biggest cotton processor at 59¢ a share.
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