Louis Dreyfus Company Melbourne, a subsidiary of global agribusiness Louis Dreyfus Company, plans to acquire all outstanding shares of Namoi Cotton in cash at 60 cents per share, valuing each share at 61 cents after excluding a 1 cent per share dividend.
Louis Dreyfus Company aims to strengthen its position in the Australian agricultural sector by leveraging its longstanding partnership with Namoi.
The offer, at a premium to recent share prices, is contingent upon regulatory approvals and a minimum acceptance condition.