Bega Cheese may still be on the prowl for other dairy companies to snap up.April 1, 2014 9:35am
Bega Cheese may still be on the prowl for other dairy companies to snap up.
The company started last year’s bidding frenzy for Warrnambool Cheese and Butter and although missing out to Canadian company, Saputo, ended up with a multi million bonus when it sold its Warrnambool shares.
Bega chairman Barry Irvin told Tatura Milk suppliers at last week’s meeting that the board still wants to see further consolidation of the dairy industry to improve value creation.
In February Mr Irvin said Bega Cheese ‘‘has the balance sheet strength, business profile and performance that positions it well to pursue that value creation’’.
A mystery buyer recently snapped up 9.4 million shares recently for $5.55 per share, representing an investment of $52 million in Bega.
Tatura milk is also in a stoush with the Australian Tax office over whether the company was a co-operative in 2009, 2010 and 2011, and the ATO has served up a tax bill of $13 million.
The tax office served the notice on parent company Bega on March 4.
Mr Irvin said he didn’ believe ‘‘the tax office is always right’’ and had gone back to its advisers to put a further submission to the office.
Shepparton’s March rainfall was negligible and the lowest since the worst years of the last drought.
The Yarrawonga Mulwala B Grade Rams have secured the Des Johnston Shield as WDCA B Grade Two Day Premiers for season 2014/2015 with a crushing win over City Colts.
Two Tatura junior tennis teams played in Grand Finals of the Shepparton and District Junior Tennis Association on Saturday, March 21.
It has been a dry beginning to 2015 for Echuca and surrounding districts.
Four Rochester projects are a step closer to completion.
20th Heritage Day a hit
Great range of entries in both garden and photographic competition.
Finley have now formed their own Local Health Advisory Committee.
Heathcote police have continued to make ground in their fight against illicit drugs with more raids and arrests in the past week.
Cobram Highway Patrol urges care on the roads over the Easter long weekend.
After more than 10 years of planning, the miniature railway at Deniliquin;s Memorial Park will begin operating on Sunday.
Toolamba Primary School student Felix Turnbull is looking forward to seeing his face on new SPC labels that will be on supermarket shelves across the nation.
Benalla streets have come alive with street art. The large painted images adorn some of the town's buildings, creating a spectacular sight.
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