Singapore-based Olam has lobbed a $122 million takeover offer for Namoi Cotton, setting the stage for a showdown with French agribusiness giant Louis Dreyfus over strategic food and fibre infrastructure in Queensland and NSW.
Samuel Terry backed the Louis Dreyfus bid last November on the proviso it was not trumped by a superior proposal, and is supporting the Olam offer with the same rider. “A combination with Olam Agri would bring significant benefits to Namoi including access to Olam Agri’s global expertise and track record of driving growth in its businesses,” Olam said.
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