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Louis Dreyfus' bid for Namoi Cotton could harm competition, Australian watchdog warns

By James Panichi ( May 16, 2024, 02:49 GMT | Insight) -- The unyielding attempt by France’s Louis Dreyfus Company to acquire Namoi Cotton has been hit with regulatory headwinds, with Australia’s competition watchdog warning the deal could lead to a substantial lessening of competition in key cotton-industry markets affected by the deal. The Australian Competition & Consumer Commission today warned that the proposed deal would be likely to harm competition in the supply of cotton ginning services in northern Australia. The regulator is also reviewing a rival bid for Namoi made by Singapore-listed Olam Agri, which has entered into a bidding war with Louis Dreyfus. Louis Dreyfus Company’s unyielding attempt to acquire Namoi Cotton has been hit with additional headwinds, with Australia’s competition regulator warning the deal could lead to a substantial lessening of competition in key cotton-industry markets affected by the deal....

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