Canada-based dairy firm Saputo Inc has again increased its stake in its takeover target, Australia-based dairy supplier Warrnambool Cheese and Butter Factory Ltd, from 20.141% yesterday to 21.392%.
Saputo Inc
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Montreal, Canada-based dairy firm Saputo Inc has increased its stake in Australia-based dairy supplier Warrnambool Cheese and Butter Factory Ltd to 20.1%, according to an ASX statement.
Japan-based food and beverage giant Kirin Holdings Ltd has no plans to sell its 9.99% holding in Warrnambool Cheese and Butter Factory Ltd to Canadian firm Saputo Inc as it wants to secure a cheese supply agreement with the latter.
Murray Goulburn Co-operative Co. Ltd. expects a decision from the Australian Competition Tribunal on its bid for Warrnambool Cheese and Butter Factory Holdings Co. by the end of February. Murray Goulburn raised its offer to A$530 million as it faces strong competition with Canada's Saputo Inc.
United Dairy Power, the biggest privately owned milk supplier in Australia, is looking to dispose a stake in the firm to an Australian diary investor for an undisclosed sum.
Bega Cheese Ltd., the largest shareholder in Warrnambool Cheese and Butter Co. Holdings, is reportedly negotiating with other firms including non-Australian investors on a possible sale of its 18.7% stake in Australia's oldest dairy firm.
Canadian dairy firm Saputo Inc, following a probe by Australia's Takeover Panel, said that it will raise and extend its takeover offer for Warrnambool Cheese and Butter Factory Holdings Co.
Saputo Inc., Canada's biggest dairy company, has extended its bid for Warrnambool Cheese and Butter Factory Co. by a week to next Friday. Saputo is up against Murray Goulburn Co-operative Co. Ltd. and Bega Cheese Ltd. for the Australian dairy firm, according to a Reuters report.
The following bids, mergers, acquisitions and disposals were reported on Wednesday, including Fortum, National Vision, Saipem, CTT, MTS, Southern Pacific, Warrnambool, Verbund, Bakkafrost, Popular and Marathon Oil.
Canada-based milk processor Saputo Inc raised its acquisition offer for Australia-based Warrnambool Cheese & Butter Factory Co to AUD515 million in a three-way bid contest with dairy firms Bega Cheese Ltd and Murray Goulburn Cooperative Co.
The following bids, mergers, acquisitions and disposals were reported on Friday.
Canadian dairy company Saputo Inc was one step ahead of clinching the win to take over Warrnambool Cheese and Butter Factory Co Holdings Ltd, when the former's revised bid received the recommendation of the latter's board of directors.
Canadian company Saputo Inc's AUD449 million offer for Warrnambool Cheese and Butter Factory Holdings Ltd. has been recommended by the WCB board and subsequently approved by the Australian government.
An Australian regulator approved the bid of AUD 407 million of Bega Cheese Ltd for the acquisition of Warrnambool Cheese & Butter Factory Co.
Canada-based Saputo's bid of USD 432 million had so far bested all other offers for Warrnambool Cheese & Butter Factory Co.
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