AUS: Our offer is final, Saputo tells WCB investors
Saputo battling Murray Goulburn to buy WCB
The Canadian dairy giant is battling with another Australian dairy group, Murray Goulburn, for WCB and has put forward an offer that could be worth A$9.60 a share if it is accepted by over 90% of shareholders.
As of yesterday (9 January), Saputo had received the backing of WCB investors that held just under 21.4% of the business.
The bid had been due to expire today at 10pm Melbourne time but Saputo has extended the deadline to 7pm on 22 January - and told WCB shareholders it would be its final offer.
Murray Goulburn has an offer on the table for WCB worth A$9.50 a share. However, the bid is dependent on approval from Australian competition officials. The Australian Competition Tribunal is scheduled to rule on the offer next month.
Murray Goulburn already holds a 17.7% stake in WCB. A third Australian dairy firm, Bega Cheese, which had bid for WCB but has pulled out of the race, owns 18.8%.
Last week, Bega Cheese told just-food it had received interest in its stake from potential suitors beyond Saputo and Murray Goulburn.
Kirin Holdings, the Japanese food and drink giant, is also on the WCB share roster. It acquired a 9.99% stake in WCB through its Australian dairy subsidiary Lion when the bidding war for the business started. WCB manufactures some of Lion's cheese brands, including Cracker Barrel.
Canadean's "Bega Cheese Limited - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and s...
Synopsis The report presents detailed data on consumption trends in the Cream category in Australia, analyzing consumption volumes and values at segment level. It also provides indispensable data on d...
Sanitarium, the Australian food group credited with kick-starting the breakfast drink category in the country over a decade ago, has added an oats-based product to its range....
The report presents detailed data on consumption trends in the Cheese category in Australia, analyzing consumption volumes and values at segment level. It also provides indispensable data on distribut...
The report presents detailed data on consumption trends in the Cream category in Australia, analyzing consumption volumes and values at segment level. It also provides indispensable data on distributi...
- Premier Foods CEO expects UK supermarket rebound
- Why Post is increasing its exposure to cereal
- Briefing: The risks and rewards of e-tail in China
- Comment: Tread carefully over payment terms
- Lacklustre sales see Hershey turn to snacking
- Post Holdings strikes deal to acquire MOM Brands
- Hershey to acquire meat jerky firm Krave
- Up & Go breakfast drinks set for UK launch
- Hershey linked to takeover of jerky maker Krave
- Crisp maker Sibell acquires Spain's Celigueta
- 10 Key Trends in Food, Health and Nutrition 2015
- Unilever - Strategy and SWOT Report
- The Sugar Backlash and its Effects on Global Consumer Markets
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits
- PepsiCo, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report