The Straits Times
Published on Nov 30, 2012

Muddy Waters offers to pay to get Olam's debt rated


MUDDY Waters has issued a fresh challenge to Olam International to get the commodity giant's debt rated, and even offered to pay for the rating to be done.

It also dismissed Olam's claims that it was working and colluding with other hedge funds to short Olam's stock, and demanded an apology from Olam.

"We demand a full and prompt retraction of any and all comments Mr Verghese has made impugning our integrity and an unconditional apology," it said.

"While we strongly believe in the right to free speech, and its importance to the marketplace, Mr Verghese's comments have crossed the line - particularly given that Olam was apparently lightning quick to file its own defamation suit against us."