SG's Olam Agri quits bidding war for Australia's Namoi Cotton

SG's Olam Agri quits bidding war for Australia's Namoi Cotton

Photo: Reuters

Dutch crop trader Louis Dreyfus raised its buyout offer for Namoi Cotton on Tuesday, with its bid that values the Australian cotton ginning firm at A$159.3 million ($110 million) signalling the end of a months-long bidding war as Singapore’s Olam Agri effectively surrendered arms.