Saputo raises bid on Warrnambool to $432M

10/27/2013 | Bloomberg

Saputo raised its bid for Australia's Warrnambool Cheese & Butter Factory Co. to $432 million, topping the bids of competitors Bega Cheese and Murray Goulburn Cooperative Co. The Canadian company's bid comes to almost $8 Australian per share and has won the support of Warrnambool's board. Murray Goulburn, previously the highest bidder, has requested that the Foreign Investment Review Board delay its decision on Saputo's offer until the Australian Competition Tribunal reviews Murray Goulburn's application.

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