date:Jan 10, 2014
Canadian dairy products maker Saputo has increased its holding in Australia's oldest dairy processor Warrnambool Cheese and Butter to 20.14%.
With this development, the Canadian firm has become the largest shareholder of Warrnambool, prior to closing of its takeover on 10 January.
If the company receives acceptance from 90% or more Warrnambool shareholders, its unconditional cash offer of A$515m ($461m) could be about A$549m ($492m).
In December, Saputo increased its offer price for all issue