Cotton giants set to merge
07/08/2009
Allenberg Cotton, the world’s largest cotton trading company, is holding talks with rival Dunavant Enterprises on a possible merger.
“Both parties are optimistic that we’re going to reach a positive resolution,” Joe Nicosia, Allenberg’s chief executive officer, told Bloomberg.
For his part, William Dunavant, chief executive of Dunavant, said: “The world is changing and the cotton business is changing. We view this as a positive event for both companies and the industry. We’re very excited about it.”
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