Olam (Muddy's Response)

Olam: Muddy Waters says Olam's response attempts to be substantive, but "contains numerous instances of irrelevant information , factual inaccuracies, misleading statements and mischaracterizations" of its earlier report. Challenges Olam to accept its offer to pay for Olam to have one of its public debt issues rated by S&P. Leaves the offer open before 5 Dec '12, 5pm. Adds sh/h might have reason to worry that senior mgt could be facing margin calls (that could cause it to liquidate Olam shares) bcs it possibly pedged significant numbers of shares, citing how Mr Verghese refused to answer a qn about share pledges on a recent conference call. The stock is -0.6% at $1.55, pulling back from an earlier high of $1.58. http://d.muddywatersresearch.com/wp-content/uploads/2012/11/MW_OLAM_11302012.pdf