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Two of the bidders for Warrnambool Cheese and Butter Factory have this week made fresh offers for the Australian dairy. The focus now moves...
The battle to acquire Warrnambool Cheese and Butter Factory has evolved into a complex series of tactical manoeuvres that could make Sun Tzu's The Art of War seem like light reading. Since the first takeover approach was announced, the tussle for WCB has seen industry majors Saputo, Murray Goulburn and Bega Cheese competing for ownership of the Australian dairy. With the stakes high, it is clear that it is all still to play for. Katy Askew reports.
Now that Heineken has airlifted Fraser and Neave's share of Tiger beer out of the company's hands, all eyes turn to Kirin Holdings and ThaiBev's intentions for the Singapore food and drink group, writes Chris Mercer.
A chunk of Dole Food Co.'s business could end up in the hands of one of Japan's largest trading houses it was announced this week - and China appears to be central to the potential deal.
Lion, the Australian food and beverage group, is to place its stand-alone Asian dairy business into its dairy and drinks division in a bid to put the region at the centre of the company's decision-making.
Lion, the Kirin Holdings-owned Australian dairy-to-brewery group, reported an increase in full-year operating earnings despite lower sales in the period.
Lion Pty Ltd, the Australian dairy group, is to upgrade production at its Bentley dairy in Perth – but confirmed that the move will see job cuts at the site's warehouse operations.
Warrnambool Cheese and Butter Factory - the Australian arm of Canadian dairy group Saputo - has struck a deal to acquire the everyday cheese business of Lion Pty Ltd for approximately A$137.5m (US$107.1m).
Lion saw volumes from its dairy and juice arm drop more than 7% in the year to the end of September but the Australian dairy group said it was making progress in attempting to turn the business around.
Australian group Lion continues to see sales from its dairy and soft drinks division come under pressure, with volumes down over 3% in the first half of its financial year.
Saputo's takeover offer for Warrnambool Cheese and Butter Factory has closed, with the Canadian dairy giant holding just shy of 88% of the Australian processor.
Australian group Lion has booked an impairment charge of A$338.8m on its dairy business, which it warned faced "considerable headwinds".
Murray Goulburn has decided to accept the takeover offer for fellow Australian dairy firm Warrnambool Cheese and Butter Factory from Saputo.
Saputo has secured control of Warrnambool Cheese and Butter Factory after winning the backing of shareholders representing over half the Australian dairy processor.
Saputo's bid to buy Warrnambool Cheese and Butter Factory was given a boost today (16 January) after Bega Cheese decided to sell its stake in the Australian firm to the Canadian dairy giant.
Saputo has said its current bid for Australian dairy processor Warrnambool Cheese and Butter Factory is its "last and final offer".
Australian dairy processor Bega Cheese has received interest in its stake in local peer and takeover target Warrnambool Cheese and Butter Factory.
Australian dairy processor Bega Cheese, which kicked off the takeover battle for local peer Warrnambool Cheese and Butter Factory, is to walk away from the table and close its offer.
Saputo has increased its bid for Warrnambool Cheese and Butter Factory after an intervention from Australia's Takeovers Panel.
Australia's Takeovers Panel is reportedly set to announce whether Canadian dairy giant Saputo must up its offer for local processor Warrnambool Cheese and Butter Factory.
Stuart Irvine, chief executive of Australian food and drink group Lion, has played down speculation the company's dairy processing business could be sold.
Australia's Takeovers Panel has put Saputo's bid to buy local dairy processor Warrnambool Cheese and Butter Factory on hold.
Fonterra has snapped up more shares in Bega Cheese, the Australian dairy processor.
Murray Goulburn is challenging Saputo's latest bid for Australian dairy Warrnambool Cheese and Butter Factory.
Saputo has upped the stakes in the battle to buy Warrnambool Cheese and Butter Factory, with a pledge to increase its offer again if it secures over half of the Australian dairy firm.
Saputo has reacted to new offers from rivals and returned to the table with a higher bid for Australian dairy Warrnambool Cheese and Butter Factory.
Murray Goulburn has returned to the table with a fresh offer - and the highest yet - for sought-after Australian dairy peer Warrnambool Cheese and Butter Factory.
Australian food and beverage group Lion has reported a 4.% drop in third-quarter sales from its dairy and soft drink business as it rationalises its portfolio and battles competition.
Australian dairy and beverage group Lion has snapped up just under 10% of Warrnambool Cheese and Butter Factory, the latest twist in the battle to buy the business.
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