Olam: update on NZFSU offer. The NZ Overseas Investment Office has granted Olam consent for the takeover offer. To date Olam has received total acceptances of 37%, including the 7% of shares received from Accident Compensation Corporation, the third largest sh/h after Olam and PGG Wrightson.
For offer to be unconditional, Olam now needs additional acceptances in respect of 13% of the shares in NZFSU +0.8% in morning trade. All eyes will be on the FYJun10 results, to be released after mkt close today.
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