Aussie Dairy Co. Trumps Rivals With $406M Bid For Producer

Law360, New York (October 18, 2013, 1:53 PM EDT) -- Australia's Warrnambool Cheese and Butter Factory Co. Holdings Ltd. has received its third takeover proposal in two months, with its second largest stakeholder lobbing an AU$420 million (US$406 million) bid at the dairy producer, Warrnambool announced Friday.

Murray Goulburn Co-operative Co. Ltd., which holds a 17 percent stake in the Australian dairy company, is offering AU$7.50 per share to snap up the rest of Warrnambool. The offer trumps an AU$7.00-per-share bid by Canada's Saputo Inc., which itself is superior to a September takeover proposal by Australia's...
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