Olam extends deadline for Namoi Cotton acquisition offer

Olam offered up to $0.62 per share for at least 90% stake in Namoi Cotton.

Olam Group has extended the closing date of the offer to acquire all shares of Namoi Cotton through its 64.57%-owned subsidiary, Olam Agri.

The extended closing date will be on 13 August, 7 pm Sydney time.

In May, Olam Agri offered to acquire Namoi Cotton for $0.59 (A$0.66) per share, subject to obtaining at least a 50.1% stake.

Olam Group said the offer price may be increased to $0.62 (A$0.70) apiece if it obtains at least 90% of Namoi’s shares before the end of the offer period.

Olam Group will announce any material updates and developments as required in accordance with the Listing Rules and relevant regulations.

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