Reported 27 days ago
Olam Agri Holdings Ltd. has raised its all-cash offer for Namoi Cotton Ltd. to A$154 million, surpassing a competing bid from Louis Dreyfus Co. by 12%. This move comes just days after Namoi's independent directors favored the rival's proposal. The bidding war highlights the intense competition between the crop traders to gain a foothold in Australia's cotton industry, with Namoi being a significant player in cotton processing.
Source: YAHOO