In its May 2 release on the Australia Stock Exchange (ASX), Olam Agri said it intends to pay 66 Australian cents (59 cents) per share in cash. The offer will be increased to 70 Australian cents per share if Olam Agri obtains a relevant interest in at least 90% of shares in Namoi before the end of the offer period.
Olam Group’s 64.57%-owned subsidiary, Olam Agri, has announced its intention to make an off-market takeover of all the shares in Namoi Cotton.
Namoi Cotton is an Australian-owned and operated cotton ginning company.
