The most recent offer from Louis Dreyfus, which already owns more than a fifth of Namoi’s shares, values Namoi at A$138 million and is set to close on Friday.
Olam Agri Holdings has increased its takeover bid for Namoi Cotton just two days after independent directors at the Australian cotton producer recommended a rival offer from Louis Dreyfus.
Olam raised its bid to A$0.75 ($0.66) per share from A$0.70, it said in a regulatory filing on Friday, valuing the company at A$154 million.
