Olam Revises Acquisition Bid for Dangote Flour

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Crown Flour Mills Limited has submitted a revised offer to acquire all the outstanding shares of Dangote Flour Mills that are not currently held by its parent company, Olam International Limited.

This fresh offer, which was submitted for final consideration is N120 billion, amounting to N24 only per ordinary share following the adjustments made, Nairametrics has reported.

Prior to this development, on Thursday, August 1, 2019, Dangote Flours received an addendum from Olam to the offer dated Thursday, April 23, 2019, to acquire its outstanding and issued shares that are not currently owned through Crown Flour.

As earlier reported, Olam offered N130 billion for the 5,000,000,000 issued shares of Dangote Flour Mills.

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