Previous close | 1.1700 |
Open | 1.1700 |
Bid | 1.1400 x N/A |
Ask | 1.1500 x N/A |
Day's range | 1.1400 - 1.1800 |
52-week range | 0.7950 - 1.4500 |
Volume | |
Avg. volume | 2,456,098 |
Market cap | 4.333B |
Beta (5Y monthly) | 0.79 |
PE ratio (TTM) | 19.00 |
EPS (TTM) | 0.0600 |
Earnings date | 09 Aug 2024 - 13 Aug 2024 |
Forward dividend & yield | 0.08 (7.02%) |
Ex-dividend date | 03 May 2024 |
1y target est | N/A |
Namoi Cotton on Friday asked its shareholders to accept Singapore-based agribusiness Olam Agri's A$144.9 million ($96.08 million) takeover offer for the cotton processing company. The affiliate Singapore's Olam Group and Dutch commodity merchant Louis Dreyfus Company (LDC) have been engaged in an international bidding war to take control of Namoi, which would help them expand their footprint in Australia. Olam already owns ginning facilities in parts of the country, whereas LDC previously acquired U.S.-based Dunavant Enterprises' cotton operations in Australia.
Olam Group Limited ( SGX:VC2 ) shareholders should be happy to see the share price up 27% in the last quarter. But if...
Singapore's Olam Agri Holdings said on Thursday it was planning to make an off-market bid for Australia's Namoi Cotton for A$136.6 million ($89.13 million), which would be subject to the suitor acquiring at least a 50.1% stake in the target firm. The new bid comes just a few months after Global commodity merchant Louis Dreyfus Company (LDC) first made a cash offer to acquire the 83% of issued shares in Namoi that it does not already control. Under the new bid, Olam's offer price would be A$0.66 per share, higher than the Dreyfus' A$0.60 rival offer.