WILL AN AUSTRALIAN COMPANY STOP A FOREIGN BUYER? Dairy giant poses as a national farm saviour Date Dairy co-operative Murray Goulburn has wrapped an 11th-hour takeover offer for Warrnambool Cheese & Butter in the Australian flag in an attempt to sidestep potential competition issues and win the hearts, minds and wallets of shareholders. The $420 million cash takeover bid for a company that was on the verge of falling to Canadas Saputo at $7 a share, after the Warrnambool board rejected a cash-and-scrip offer from Bega Cheese Ltd earlier this week. Murray Goulburn boss Gary Helou didnt hold back at a media briefing after lobbing the bid: Our sector is overcrowded, substandard and largely foreign owned and [they] … are not doing the job for Australia. Unless we arrest this we will become a net importer in 15 years. Read more: smh.au/business/dairy-giant-poses-as-a-national-farm-saviour-20131018-2vsh4.html#ixzz2iEsAijRv
Posted on: Sun, 20 Oct 2013 05:59:19 +0000
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