An increasing demand for dairy products in Asia is driving a bidding war between Saputo and Bega Cheese over the acquisition of Australian dairy producer Warrnambool Cheese & Butter Factory. The companies are vying to acquire Warrnambool to expand operations and capitalize on unmet dairy needs in the region, which are expected to boost the cost of exported milk powder by 33%, butter by 16% and cheese by 12%, according to Warrnambool.

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