Olam International Ltd Downgraded To ‘Underweight’ By Morgan Stanley

While the rest of the market has struggled, Olam International Ltd (SGX:O32) has struggled to keep its stock price above S$1.50 for much of the last year, plagued by doubts about its ability to turn around under-performing assets and allegations of mismanagement from Muddy Waters founder Carson Block. So it’s no surprise that the offer by Temasek Holdings subsidiary Breedens Investments to buy shares at an 11% premium has caused people to jump ship. Consortium could own more than 90% before long Olam International Ltd’s (SGX:O32) stock price quickly gained 11% yesterday to exactly match the offer price of S$2.23 per share,…