Olam Group has, through its 64.57%-owned subsidiary, Olam Agri Holdings, increased its offer to acquire all the shares in Namoi Cotton to 70 Australian cents (62 cents) per Namoi share.
The offer price now applies regardless of whether Olam obtains a relevant interest in at least 90% of shares in Namoi before the end of the offer period.
The increased offer price of 70 Australian cents is higher than the increased takeover offer price of 67 Australian cents made by Louis Dreyfus Company Melbourne Holdings Pty Ltd (LDC) on May 7.
The rest of the offer conditions – including Olam obtaining a relevant interest of at least 50.1% of shares in Namoi – remain the same.
Shares in Olam Group VC2 closed flat at $1.16 on May 7.
