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.