NEW ZEALAND: Fonterra gets higher bid for NZ Dairy Foods from Rank
New Zealand dairy producer Fonterra said is has been offered a further NZ$0.05 (US$0.02) per share by Rank Group, which wants to acquire NZ Dairy Foods. The new comes as Fonterra is trying to face down a rebellion among farmers angry at the price it has already accepted for NZ Dairy Foods from food magnate Graeme Hart - NZ$1.7 per share, valuing the group at NZ$119m.
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