Australia's Namoi Cotton soars as regulator gives conditional nod to takeover bid

Namoi Cotton

01/08/2024 06:50

** Shares of Namoi Cotton  NAM.AX  rise as much as 8.1% to
A$0.735, their highest level since May 16
    ** The Australian Competition and Consumer Commission says
it will not go against Dutch merchant firm Louis Dreyfus'
proposal to take over co, under certain conditions
    ** About 1.1 mln shares change hands by 0533 GMT, 7.8 times
the 30-day average volume of shares
    ** Stock has risen 41.7% this year, as of last close

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