date:Jan 24, 2014
Canadian dairy company Saputo has announced that it has now acquired more than 50% of the shares of Australias Warrnambool Cheese and Butter Factory, giving it majority control. Its shareholding stands at 52.702%. This seems to eliminate previous contender Murray Goulburn, which had acquired some 17% of Warrnambools shares.
In accordance with Saputo's original offer, the company will increase the offer consideration from AU$9.00 to AU$9.20 cash per Warrnambool share, having reached a relevant i