MG urges competition issue change

29 January 2014

Murray Goulburn will lobby regulators and government about competition issues, according to the co-operative’s chief executive Gary Helou.

MG sold its stake in Warrnambool Cheese and Butter to Canadian company Saputo last week, gaining $51 million, and will not proceed with its case in the Australian competition tribunal

This will take Saputo’s WCB holding to more than 75 per cent and make its offer worth $9.40 a share.

In 2010 MG pulled out before a final ruling by the Australian Competition and Consumer Commission when it first wanted to take over WCB.

Mr Helou said analysts and commentators were now picking up on the theme of forming an alignment in Australian dairy and competition framework, following the bidding war for WCB.

Read the full story, MG urges competition issue change, The Weekly Times, Jan 29