Warrnambool Cheese and Butter's formal statement supporting the Saputo bid is now out.January 7, 2014 11:00am
Warrnambool Cheese and Butter has produced a 62 page statement urging its shareholders to reject the Murray Goulburn Co-operative share offer.
The company claims the Saputo offer is superior and have advised their shareholders to ignore Murray Goulburn.
Chairman Terry Richardson described Murray Goulburn’s offer as highly conditional and uncertain.
‘‘The intentions of Murray Goulburn regarding the future of WCB’s operations are unclear in a number of material respects, creating uncertainties for a range of WCB stakeholders,’’ he said.
He said each of the Warrnambool directors and senior executives have already accepted Saputo’s Offer for shares they hold, representing 1.95 per cent of all Warrnambool shares.
Although Saputo’s offer is 50 cents less than Murray Goulburn’s $9.50 offer, Warrnambool says Saputo’s Offer was considered superior to Murray Goulburn’s Offer based on an overall comparative assessment of value, certainty and timing value.
Saputo’s offer period will end at 7
Shepparton’s Declo Bisimwa firmly believes education is the key to a better life.
Beautiful weather greeted Tungamah residents for the 18th running of the Tungamah Lions Ten Thousand on Sunday.
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Garners Boxing Gym in Echuca is encouraging young people to get active with weekly boxing/cardio classes.
Rochester Rotary Club has celebrated its 50th birthday in style.
Sorting future of Campaspe pools
A theatre production with a difference is coming to Seymour.
Local athletes will go head-to-head with some of the best competitors from around the world in swimming and athletics in December.
District residents and visitors will be able to enjoy some of the region’s most beautiful private gardens on Sunday.
The 116th annual Cobram Show went off with a bang at the weekend, drawing in crowds from far and wide for two days of fun.
Tomorrow is a Total Fire Ban day in Deniliquin, meaning no fires can be lit in the open and all fire permits are suspended.
Fifty new full-time jobs will be created at Tatura with a multimillion-dollar expansion of the abattoirs expected to be announced today.
Remembering Australian political giant Gough Whitlam who once called on Benalla police to stop then Treasurer Frank Crean on his journey up the Hume to phone the PM.
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