Temasek not raising offer price for Olam
TEMASEK Holdings does not intend to raise its offer price for Olam International.
This was announced yesterday by financial advisers of Breedens Investments, an indirect wholly owned subsidiary of Temasek Holdings that launched the offer.
In March, Temasek launched the offer for all Olam shares that it did not already own in a deal that values the agri-commodities firm at $5.33 billion.
The offer price of $2.23 represented a premium of 11.8 per cent over the last traded price before the announcement. It is also making an offer for convertible bonds at US$850.37 for every US$1,000 principal amount of convertible bonds, and 64.6 Singapore cents for each warrant.
Temasek does not intend to increase the offer price for the shares, the warrants and the convertible bonds.
Its offer has been declared unconditional, as the level of acceptances crossed the 50 per cent mark of Olam's maximum potential share capital.
The offer period was earlier extended till 5.30pm on May 23.
