Temasek Holdings will not raise offer for Olam International

Temasek Holdings said on Monday there will be no further raises to their offer for commodities firm Olam International.

Its offer stands at $2.23 per share, a premium of 11.8 per cent over the last traded price before the announcement.

It is also offering US$850.37 for every US$1,000 principal amount of convertible bonds, and 64.6 Singapore cents for each warrant.

Temasek added it reserved the right to revise terms if a competing offer for Olam is announced, or if any other competitive situation in relation to Olam arises.

Olam's shares closed unchanged at $2.23.