Following last week’s collapse of its joint bid with Parmalat for Dairy Farmers, Murray Goulburn is rumoured to be preparing to launch a solo bid for the Australian dairy cooperative.
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According to a report from Reuters, which cited an unnamed source, Murray Goulburn lodged a final bid over the weekend.
It is believed that the Australian Competition and Consumer Commission, which blocked the joint bid, would have fewer concerns over a solo bid by Murray Goulburn because there are fewer overlaps between the dairy businesses.
If Murray Goulburn is still in the running for Dairy Farmers, it would bring the number of parties interested – or rumoured to be interested to three. A bid from National Foods, the Australian unit of Japan’s Kirin Holdings, is currently the sole confirmed bidder. However, Canadian firm Saputo is also rumoured to be interested in the sale.
Two other international dairy firms, Singapore’s Olam and New Zealand’s Fonterra, have pulled out of the bidding.
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By GlobalDataThe Dairy Farmers sale has been valued at A$800m-$1bn (US$700m-$885m).
