Murray Goulburn launches Warrnambool bid

 In Australia, NewZealand
Dairy processor Murray Goulburn has launched a rival $420 million bid for listed rival Warrnambool Cheese and Butter, trumping Canada’s Saputo.
The move marks the latest twist in the three-way battle for the western Victorian agribusiness player after NSW-based Bega initially made a move on WCB.
Murray Goulburn this morning said it would offer for $7.50 cash per WCB share. This edges out the $7.00 cash per share offer by Saputo and represents 13 per cent premium to the implied value of Bega’s scrip-based offer.  Sydney Morning Herald – Read more…

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