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Olam Agri faces serious regulatory pushback in fight for Australia's Namoi Cotton

By Ryan Cropp ( June 20, 2024, 01:52 GMT | Insight) -- Olam Agri Holdings’ bid for Australian cotton-ginner Namoi Cotton has hit another regulatory roadblock, after the country’s competition watchdog raised several major concerns with the proposed transaction. The deal is one of two bids for Namoi currently being probed by the Australian Competition and Consumer Commission, which raised similar concerns with Louis Dreyfus Company's proposed Namoi tie-up last month. Earlier this week, both companies increased their shareholdings in Namoi, with LDC now holding 19.02 per cent of the company and Olam 3.31 per cent, according to statements made to Australia’s securities exchange.Olam Agri Holdings’ bid for Australian cotton-ginner Namoi Cotton has hit another roadblock, after the country’s competition watchdog raised several major concerns with the proposed transaction....

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