The announcement today by Australia’s Bega Cheese to sell its stock in Warrnambool leaves the way clear for Lion to follow suit, while Canadian dairy company Saputo should now be free to take over the New South Wales cheese and butter business.
Canadian dairy giant Saputo looks a step closer to gaining control of Warrnambool Cheese and Butter (WCB), after one-time takeover rival Bega Cheese agreed to sell its stake in the Australian dairy processor.
Australia’s Takeover Panel has called the revisions made to the fraught takeover deal by Saputo of Warrnambool Cheese and Butter “confusing” and “disrupting” as it attempted to simplify the heated three-way bidding war for the Australian dairy manufacturer.
Canadian dairy giant Saputo has been ordered by the Australian Takeovers Panel not to process any acceptances received under its latest bid for Warrnambool Cheese and Butter (WCB), following a complaint by rival bidder, Murray Goulburn.
By calling it a “great transaction” for shareholders, farmers and agriculture in the United States, Smithfield Foods chief executive Larry Pope couldn’t have been more ebullient now his shareholders have rubber-stamped Shuanghui’s takeover of the American...
China Modern Dairy has played down rumours of a takeover by “a third party” – assumed to be Mengniu – but has confirmed that talks are ongoing with the unnamed company in regards to the “possible disposal of certain assets.”
A Hong Kong stock Exchange disclosure has revealed that investment
company Castlerigg International has bought a strategic 10.01 per
cent stake in China's Harbin Brewery, a move that looks likely to
put more pressure on international...
PT Indofood Sukses Makmur, the Indonesian wheat flour producer and
food company, has said it is expecting up to 5 per cent growth in
sales for 2004 in the same week that it launches a further bond
offering on the Surabaya Stock Exchange...