Warrnambool stocks surge following Bega Cheese takeover bid

09/12/2013 | Bloomberg

Australia's Warrnambool Cheese & Butter Factory saw a 33% surge in shares this week after the company announced a A$319 million takeover bid from Bega Cheese. The merger, which has not yet been reviewed by Warrnambool shareholders, would result in the production of 353,000 tons of dairy products using about 1.6 billion liters of milk from Australian farmers.

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