Olam Buyout Caps 55% Rally as Short-Seller Block Praises Change
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Olam International Ltd., the Singapore-based commodities trader that short-seller Carson Block has said is worthless, just got a lot more valuable.
Olam rose 12 percent to S$2.23 ($1.76) on March 14 after Breedens Investments Pte, a unit of Temasek Holdings Pte, offered that much for the publicly held equity. The stock was trading at S$1.44 five weeks ago, making its 55 percent advance since then the biggest for any comparable period since January 2009, according to data compiled by Bloomberg.