date:Nov 13, 2013
The Treasurer had placed no conditions with respect to the approval.
The future ownership of WCB is a matter for the shareholders; however, this decision provides certainty in relation to Saputo's bid, he said.
Hockey added that Australia is open for business and the country welcomes foreign investment when it is not contrary to the national interest.
In October, Saputo made a C$378m offer to acquire WCB; however, it later increased the bid by 14%.
As per the revised offer, Saputo is offerin