Olam Agri raises bid for Namoi to A$0.75 per share

The previous bid was A$0.70.

Olam Agri has increased its offer price from $0.61 (A$0.70) to $0.66 (A$0.75) per share for the acquisition of Namoi Cotton Limited (Namoi).

The increased bid is $0.070 (A$0.08), 12% higher than Louis Dreyfus Company’s (LDC) $0.59 (A$0.67) bid and is consistent with Olam Agri’s superior valuation of the Namoi business compared to LDC.

Olam Agri’s initial bid was $0.59 (A$0.66) per share, which was subsequently raised to $0.61 (A$0.70) per share in May.

A$1=S$0.87

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