Singapore's Olam to take over Queensland Cotton

Olam has offered up to $110 million for Australia's Queensland Cotton to create the world's third-largest cotton company.

Olam International in Singapore announced yesterday March 7 that it will pay up to A$142 million $110 million for Australia's Queensland Cotton. The merger proposal, which will create the world's third-largest cotton company, has been welcomed by shareholders of both companies.

Olam is a global supply-chain manager and operates across 14 products in over 52 origin countries, delivering in 55 destination markets. It has a significant position in several commodities including cocoa, coffee, cashews, sesame, rice and teak wood.

It...

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