WCB directors reject Bega Cheese offer

 In Australia, NewZealand
The directors of takeover target Warrnambool Cheese and Butter Factory (WCB) have rejected Bega Cheese’s $319 million offer as inadequate.
"The board of WCB, together with its advisers, has undertaken a detailed review of the offer contained in Bega’s bidder’s statement," WCB said in a statement on Thursday.
"WCB directors unanimously recommend that WCB shareholders reject Bega’s offer."  Sydney Morning Herald – Read more…

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