Warrnambool Cheese and Butter Factory today (2 June) “welcomed” the news that dairy co-operative Murray Goulburn has dropped its hostile attempt to buy the business.
In a statement to the Australian Stock Exchange, WCB’s board said that it had consistently rejected Murray Goulburn’s bid on the basis of its value, its “highly conditional nature” and the “uncertainty” associated with completion.
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WCB chairman Frank Davis again reiterated his position that the deal was not in the best interests of WCB, its shareholders or suppliers.
“We look forward now to building our business and taking advantage of the growth opportunities available to us as an independent company,” Davis insisted.
