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Investors eye more bites in cheese war – The Australian
CANADIAN global dairy giant Saputo has strengthened its chances of winning control of regional Victorian dairy processor Warrnambool Cheese & Butter with its $ 8-a-share friendly bid after Joe Hockey yesterday cleared the way for its $ 448 million foreign takeover.
The Treasurer approved Saputo’s foreign investment application without conditions, opening the way for WCB’s 3500-plus small farmer shareholders who control about half its 56 million shares to consider accepting Saputo’s off-market offer.
