Saputo reportedly claims majority stake in Warrnambool Cheese and Butter Factory
Updated 36 minutes ago
The ABC understands that Canadian dairy company Saputo has obtained a majority stake in the Warrnambool Cheese and Butter Factory.
A more than 50 per cent stake clears the way for Saputo to take over the company after a protracted battle with local players Murray Goulburn and Bega.
Saputo is expected to make an announcement to the Australian stock exchange on Wednesday.
The takeover offer is expected to be extended for another two weeks and investors may be paid up to $9.60 a unit for their shares.
http://www.abc.net.au/news/2014-01-21/saputo-reportedly-claims-majority-stake-in-warrnambool-cheese/5211918
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