Olam

Olam: The unconditional offer by Breedens Investments of $2.23/share closes today at 5.30pm. As of yesterday (22 May), the offeror holds an aggregate 78.1% of Olam. JP Morgan sees a strong likelihood of share price correction post the expiry of the offer if control does not cross 90% to trigger a privatization, and/or if Olam remains a listed entity (e.g. MINZ SP: -26%, FNN SP: -17% post GO with listing status maintained).