Namoi Cotton Ltd (AU:NAM) has released an update.
Louis Dreyfus Company (LDC) has announced its intention to acquire all outstanding shares of Namoi Cotton Limited at $0.60 per share, in addition to a special dividend, totaling $0.61 per share. This offer represents a significant premium over the historical market prices of Namoi’s shares. Namoi’s independent directors, except for one abstaining due to association with LDC, recommend shareholders accept the all-cash offer, contingent on no superior proposal and an independent expert’s fairness assessment.
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