Murray Goulburn could raise Warrnambool offer

18 November 2013

Murray Goulburn Co-operative managing director Gary Helou says the heated bidding war for Warrnambool Cheese & ­Butter Factory (WCB) is far from over, admitting he is considering increasing his group’s bid for the much sought-after target, The Australian Financial Review reports.

According to the newspaper, Mr Helou declined to say how much Murray Goulburn intened to, or in fact could, lift is offer to, but analysts say it would have to be more than $10 a share if it is topple the consistently preferred bids from Canadian dairy giant Saputo.

“It is not over by a long way. We bid $9 [last week] and now ­everybody is catching up. We are not out. It is not over for us. We will be there until the last round,” Mr Helou said.

Source: Business Spectator, 18 Nov