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New Bidder Emerges For Warrnambool Cheese and Butter Factory Company Holdings Ltd With $405 Million Offer; Bega Cheese Ltd And Saputo Inc Are Also In Race Of Takeover Battle - Reuters

Thursday, 17 Oct 2013 06:37pm EDT 

Reuters reported that the second-largest shareholder in Warrnambool Cheese and Butter Factory Company Holdings Ltd launched a AUD420 million ($405 million) bid for the Australian dairy company on Friday, joining a three-way takeover battle as it seeks to consolidate the struggling sector. Murray Goulburn Co-operative Co Ltd said on Friday it planned to make a A$7.50 per share cash bid, trumping a AUD7 per share bid by Canada's Saputo Inc, which had knocked out an initial approach from Bega Cheese Ltd. 

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