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Canadian dairy giant Saputo continues to lift its stake in Warrnambool Cheese & Butter Factory Co (ASX:WCB).
Saputo has announced to the market that it has a relevant interest in WCB of over 77 per cent.
Having exceeded the 75 per cent holding, Saputo says it will increase the offer from $9.20 per share to $9.40.
The offer period has now been extended to Wednesday February 12.
Saputo has also warned the WCB share price may fall in the event it does not secure 90 per cent or more Warrnambool shares to move to compulsory acquisition.
Warrnambool Cheese and Butter Factory generated a full year net profit of $7.5 million.
