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Temasek's Olam offer fair but not to all

It is not reasonable on a see-through price basis for convertible bondholders, say Olam independent directors

Singapore

ROTHSCHILD, the independent financial adviser (IFA) to Olam International, has declared Temasek's offer to be "fair and reasonable" for shareholders and warrant holders, but not so for those who own its convertible bonds.

Olam's independent directors are therefore

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