Cotton Takeover in Australia Gives Trader Dreyfus Boost in Asia

Louis Dreyfus Co. is finally at the end of its eight-month pursuit of Australia’s biggest cotton processor, securing victory in a bitter fight for control of the company that pitted the major trader against fellow behemoth Olam Agri Holdings Ltd.

The tussle for Namoi Cotton Ltd. drew a series of bids from two of the world’s biggest crop traders, often in quick succession, and prompted directors of the Australian company to flip their support as the offers got higher. At one point, Louis Dreyfus cried foul over Olam’s tactics with top shareholders, and the Namoi chairman had to convince regulators ...