Sentences with phrase «canadian dairy giant»

A day before its offer closes, Canadian dairy giant Saputo now has a near 48 per cent stake in takeover target Warrnambool Cheese and Butter Factory (WCB).

CANADIAN dairy giant Saputo Inc. has given undertakings to Australia's competition watchdog on the resale of Murray Goulburn's Koroit factory should it buy the dairy co-operative's assets.

MURRAY Goulburn shareholders have approved the sale of their co-operative's operating assets and liabilities to Canadian dairy giant Saputo.

The Australian Competition and Consumer Commission (ACCC) has been accused of unnecessary interference in Canadian dairy giant Saputo's purchase of Murray Goulburn (MG).

Saputo, the Canadian dairy giant hoping to buy Australian co-operative Murray Goulburn, has signalled a willingness to sell a Victorian plant that the competition watchdog deemed a barrier to the deal.

Canadian dairy giant Saputo has announced plans to pursue «additional efficiencies and decrease costs» across its business after announcing only marginally improved profits for the last three months of 2012.

Murray Goulburn will «commercially assess» the latest move from Saputo, as the Canadian dairy giant secured a majority stake in Warrnambool Cheese & Butter (WCB), effectively ending the bidding war for Australia's oldest listed dairy processor.

Canadian dairy giant Saputo has extended its $ 9 - a-share, cash takeover offer for Warrnambool Cheese & Butter as it awaits the Takeovers Panel's ruling on whether it has misled shareholders with its revised bid.

Updated Murray Goulburn says it will «commercially assess» the latest move from Saputo after the Canadian dairy giant secured a majority stake in Warrnambool Cheese & Butter.

Murray Goulburn is pressing ahead with its proposed acquisition of Warrnambool Cheese and Butter, despite growing expectation that rival Canadian dairy giant Saputo will pass the 50 per cent mark before the deadline for its $ 533 million offer lapses.

Updated Canadian dairy giant Saputo has lifted its bid for Warrnambool Cheese and Butter Factory for a third time, offering shareholders $ 504 million and dropping key conditions as it tries to break apart a dramatic three way battle for the nation's fourth largest dairy processor.

Bega Cheese executive chairman Barry Irvin believes a successful $ 533 million takeover by Canadian dairy giant Saputo of Warrnambool Cheese and Butter Factory will trigger further mergers in the dairy industry.

Canadian dairy giant Saputo has gained a foothold in Australia after outbidding Bega and Murray Goulburn for the nation's fourth - largest dairy processor, Warrnambool Cheese & Butter.

Canadian dairy giant Saputo is trying to use the prospect of closing its $ 500 million takeover offer for Warrnambool Cheese & Butter to pressure Bega Cheese into selling its 18.8 per cent WCB stake but the Montreal - based company is widely expected to extend its offer.

The surge in earnings comes as Canadian dairy giant Saputo and Australia's biggest dairy processor Murray Goulburn fight it out for control of WCB.

Two bidders for Warrnambool Cheese & Butter, Murray Goulburn and Bega Cheese, could turn to the Takeovers Panel to derail a revised offer for the producer from Canadian dairy giant Saputo.

Australia's largest privately owned milk processor, United Dairy Power, has backed Canadian dairy giant Saputo's bid for control of Warrnambool Cheese & Butter in a fierce $ 500 million - plus takeover battle with Victorian farmer co-operative Murray Goulburn.

The Canadian dairy giant Saputo is bidding for Warrnambool Cheese & Butter — a takeover target that the co-operatively owned Australian dairy giant Murray Goulburn would also like to own.

Saputo has increased its holding in WCB from 10.99 to 13.56 per cent, although the Australian Takeovers Panel has banned the Canadian dairy giant from processing acceptances to its offer for at least two months.

Her comments come on the heels of milk price increases from rival dairy processors Murray Goulburn and Bega Cheese, and in the wake of Canadian dairy giant Saputo's victory in the three - way takeover battle for Warrnambool Cheese & Butter.

ACCC commissioner Mick Keogh said the knowledge gained from the inquiry would inform a comprehensive assessment of the Saputo deal, which follows the Canadian dairy giant's acquisition of Warrnambool Cheese & Butter in 2014.

Canadian dairy giant Saputo and NSW - based Bega Cheese have both cleared their external regulatory conditions and declared their WCB offers unconditional, while Murray Goulburn may have to wait six months for merger authorisation.

In that way it may remain a frustrating minority shareholder for the Canadian dairy giant.

The momentum behind Saputo's $ 500 million - plus takeover bid for Warrnambool Cheese & Butter could become a breaking of the dam if Bega Cheese sells its 18.8 per cent WCB stake to trigger additional payment hurdles in the Canadian dairy giant's offer.

The firm deadline on Saputo's offer, and the prospect of losing the only live bid on the table, has given the Canadian dairy giant momentum with acceptances to its offer surging past 26 per cent.

On October 27, MG announced it had entered into an agreement to essentially sell the company to Canadian dairy giant Saputo for $ 1.31 billion.

Since then, Murray Goulburn and Canadian dairy giant Saputo have been competing for the takeover target.

The chief executive of the $ C13 billion ($ 12.7 billion) Canadian dairy giant will reach out to Australian farmers with a pledge of capital investment and other incentive programs to support a swelling of the region's milk pool.

Canadian dairy giant Saputo, which has made an unconditional $ 515 million takeover bid for Warrnambool Cheese and Butter, said it now holds 3.73 per cent of voting power in Australia's oldest dairy maker.

The Murray Goulburn (MG) sale to Canadian dairy giant Saputo is expected to be completed on May 1, subject to shareholder and statutory approvals.

Canadian dairy giant Saputo has reported a profit decrease of more than CAD$ 6m for Q1 fiscal year (FY) 2013, attributing the result to a fall in the average price of cheese in the United States.

Canadian dairy giant Saputo has extended its takeover offer for Warrnambool Cheese and Butter and lifted its stake in the target to more than 21 per cent.

Murray Goulburn is battling with Canadian dairy giant Saputo to takeover WCB, Australia's oldest listed milk processor.

Confirmation that Saputo has picked up just shy of 4 per cent of Warrnambool Cheese & Butter, along with suggestions the Canadian dairy giant might be hauled into the Takeovers Panel in the wake of Monday's simplified bid terms, talks directly to the competing strategies at play in this intricately poised takeover battle.

Not exact matches

Selling agent John Hewitt from Landmark Harcourts Tasmania said the interest shown in Murray Goulburn - Canadian giant Saputo is poised to acquire it for $ 1.3 billion, subject to regulatory approval - was «positive news» for Tasmania's dairy sector.

While capitalism dictates that to the victor go the spoils, it does seem a shame that an opportunity to create a global dairy giant based in Australia has been lost, with effective control of Warrnambool passing to our much - loved Canadian cousins.

Bega itself is vying for control of WCB with Australia's biggest dairy exporter Murray Goulburn and Canadian giant Saputo.

The raid comes as Bega is locked in a three - way tussle for Warrnambool Cheese & Butter (WCB) with Australia's biggest dairy exporter, Murray Goulburn, and Canadian giant Saputo.

Whilst capitalism dictates that to the victor go the spoils, it does seem a shame that an opportunity to create a global dairy giant based in Australia has been lost, with effective control of Warrnambool passing to our much - loved Canadian cousins.

Rothschild managing director Sam Prentice, the banker who led Canadian giant Saputo to victory in the $ 530 million battle for Warrnambool Cheese & Butter, says deals will keep flying in dairy and he hopes Rothschild will help Saputo build its Australian position.

Bega, which reported an 18 per cent leap in its first - half profit to $ 18.7 million on Wednesday, lost out to Canadian giant Saputo in a high - profile takeover scrap for its smaller listed rival, Warrnambool Cheese & Butter, and it is widely anticipated the dairy deals will continue to flow.

Bega is a minnow compared to Canadian giant Saputo and Australia's biggest dairy exporter Murray Goulburn and was always outgunned financially.

The Australian Competition and Consumer Commission paves the way for the sale of Australia's largest dairy company to Canadian giant Saputo.