Louis Dreyfus Company Melbourne Holdings Pty Ltd (ACN 161 877 785) (LDC), a wholly owned subsidiary of Louis Dreyfus Company B.V. (LDC B.V.) has announced an increase in the offer price under its off-market takeover offer to acquire all of the fully paid ordinary shares in Namoi Cotton Limited (ASX: $NAM) (Namoi) from $0.60 to $0.67 cash per Namoi Share. The offer opens on 7 May 2024 and will close on 7 June 2024, subject to extension as permitted by the Corporations Act.
The increased offer price of $0.67 per Namoi Share represents a significant premium to Namoi's undisturbed historical market prices, providing Namoi Shareholders with an opportunity to realize full value for their entire shareholding in Namoi. The offer is 100% cash and is subject to limited conditions, including regulatory approvals from the ACCC and FIRB, and a minimum acceptance condition that the LDC Group increases its relevant interest in Namoi to 50.1%. The Independent Namoi Directors have announced their intention to recommend that Namoi Shareholders accept the increased Offer at $0.67 per Namoi Share.
Louis Dreyfus Company Melbourne Holdings Pty Ltd (LDC) has increased its off-market takeover offer to acquire all of the fully paid ordinary shares in Namoi Cotton Limited (ASX: $NAM) from $0.60 to $0.67 cash per Namoi Share. The offer price of $0.67 per Namoi Share represents a significant premium to Namoi's undisturbed historical market prices. The offer is 100% cash and is subject to limited conditions, including regulatory approvals from the ACCC and FIRB, and a minimum acceptance condition that the LDC Group increases its relevant interest in Namoi to 50.1%. The offer opens on 7 May 2024 and will close on 7 June 2024, unless extended as permitted by the Corporations Act. Namoi Shareholders are provided with an opportunity to realize full value for their entire shareholding in Namoi. Louis Dreyfus Company's active involvement in Australian agriculture for more than 110 years, with its core business in the country being cotton and grain, underlines its commitment to the agricultural sector.