Australia's Namoi Cotton rises on sweetened bid from Olam Agri

Namoi Cotton

13/09/2024 02:00

** Shares of Namoi Cotton  NAM.AX  rise as much as 2.25 to
A$0.69, their highest level since Sept. 5
    ** Olam Agri  IPO-OLAA.SI  increases its takeover bid for co
to A$155.2 million ($104.40 million)
    ** Earier in the week, co recommended shareholders to vote
for the A$138 million takeover offer from Dutch crop trader
Louis Dreyfus Company
    ** About 445,000 shares change hands by 1252 GMT, 3.7 times
the 30-day average volume of shares
    ** Stock has risen 40.6% YTD, as of last close

($1 = 1.4865 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))