Baker McKenzie guides offer for proposed acquisition of cotton ginning company

Baker McKenzie has supported Olam Agri Holdings Limited (Olam) on its non-binding indicative offer in relation to a proposed acquisition of ASX-listed cotton ginning company Namoi Cotton Limited (Namoi).

The transaction involves the purchase of all Namoi shares for an approximate total consideration of $122m. The success of Olam's proposal is expected to facilitate new opportunities for both the companies involved and Australian cotton growers.

Baker McKenzie’s team advised on a proposed scheme and concurrent takeover structure. According to the firm, this structure is relatively rare in the Australian market.

Corporate partners Richard Lustig and Rick Troiano headed up the team, which included Lynsey Edgar, Sam Mossman, Emma Panhuber and Jed Lehmann.

Olam is a global agribusiness with a notable presence in the Australian cotton industry.