Namoi Cotton's response to off-market takeover bid

Namoi Cotton Limited (ASX:NAM) has lodged the third supplementary target's statement in response to the off-market takeover bid by Louis Dreyfus Company Melbourne Holdings Pty Ltd (LDC). The statement supplements the previous target's statements and provides important information for Namoi shareholders regarding the LDC Offer.

Executive commentary on LDC takeover offer

The Independent Directors of Namoi unanimously recommend that Namoi Shareholders ACCEPT the LDC Offer. This recommendation is based on recent developments, including the increase in the Offer Price to $0.77 per Namoi Share, the acceptance of the Offer by Namoi's largest shareholder, and the expected lapse of the Olam Takeover Offer. The Independent Directors consider the LDC Offer to be superior to the Olam Takeover Offer and advise shareholders to TAKE NO ACTION in relation to the Olam Takeover Offer.

Summary of the third supplementary target's statement

The third supplementary target's statement provides detailed information for Namoi shareholders regarding the off-market takeover bid by Louis Dreyfus Company Melbourne Holdings Pty Ltd. It outlines the Independent Directors' recommendation to accept the LDC Offer, citing the increased Offer Price, unconditional nature of the offer, and the risk of becoming a minority shareholder if the offer is not accepted. Shareholders are advised to seek independent financial and taxation advice and consider the information provided in the statement before making a decision.