Louis Dreyfus fires back at Olam in takeover battle for Namoi Cotton

Louis Dreyfus has hit back in the battle for Namoi Cotton, besting a rival offer from Singapore’s Olam for the Australian cotton ginner.

The French agribusiness giant upped its takeover bid for Namoi to 67¢ a share on Tuesday, trumping a 66¢-a-share bid lobbed by Olam five days ago. It is the fifth bid in a bidding war that began late last year.