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Temasek unit makes offer to buy Olam at $2.23 per share

Published on Mar 14, 2014 9:47 AM

A unit of Singapore investment firm Temasek Holdings is making an offer to buy all the shares owned by minority shareholders in agri-commodities trader Olam International.

It will pay $2.23 a share in cash, valuing the company at about $5.3 billion based on the number of outstanding shares.

Breedens Investments, an indirect wholly-owned subsidiary of Temasek, is also offering to buy all the outstanding convertible bonds and warrants issued by Olam, it said on Friday.

Breedens is leading a consortium that includes Temasek-controlled Aranda Investments, Olam's founding shareholders and 10 members of the Olam executive committee including chief executive Sunny Verghese.

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