In today’s briefing:
- Namoi Cotton (NAM AU): Well Played LDC
Namoi Cotton (NAM AU): Well Played LDC
- A$0.77/Share. That’s Louis Dreyfus Company (LDC)’s revised unconditional bid. Plus it now holds 47.66% after Samuel Terry Asset Management, Namoi’s largest shareholder, tendered into the revised term.
- Expect Namoi Cotton Co Operative (NAM AU)‘s board to shortly back LDC’s Offer. LDC’s Offer is $0.02/share above Olam Agri’s conditional bid.
- After LDC first approached Namoi in November last year, this is now done. Expect Olam to tender its stake, and fold its tent.
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