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.
A newly completed rail trail through a wildlife haven near Murchison is proving popular with the region's cyclists, walkers and horseriders.
Perfect weather forecasted this weekend will please the many boating enthusiasts registered for the inaugural Lake Mulwala Boat Muster to be held on Saturday.
A dairy cow has died from the disease anthrax in the Tatura region.
Campaspe Shire still does not have an alternative to the Moama slipway more than two years after obtaining permits to build a dry dock at the Port of Echuca.
There was a sentence doing the rounds at the weekend’s Great Northern Show.
Vic Govt issues alert after dairy cow death in Tatura
Two local teenagers have formally apologised to the Finley community for destroying 14 trees in Finley's Railway Park.
St Mary’s Catholic Church in Heathcote has undergone extensive roof repairs due to increasing water damage.
Cobram and District Toy Library secretary Liz Stronge said she was ‘‘really happy’’ with the turnout of more than 100 people to the 25th birthday Playfest at Mivo Park on Saturday.
Strong swimmers off to Riverina carnival.
Bargain hunters were out in force at Tatura last week.
Betty Summer walks 6 kms in a round trip, three times a week to go to the gym. She hates people asking her age, but couldn't keep it secret when she hit the big nine-oh.
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