THE battle for control of Warrnambool Cheese and Butter (WCB) has taken another twist with Murray Goulburn making a bid that eclipses earlier offers.
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The co-operative has made an off-market offer of $7.50 cash per share, trumping the offer by Canadian-owned Saputo, which has offered $7.
Bega Cheese also has an offer on the table for 1.2 Bega shares plus $2 per WCB share.
Murray Goulburn's offer values WCB at $420 million and would take the co-operative's milk intake to four billion litres annually.
Chairman Philip Tracy said the offer presented the opportunity to create a large scale, globally competitive company owned and controlled by Australian dairy farmers.
Murray Goulburn has made a new offer for Warrnambool Cheese and Butter.
