Finance Finance News Saputo wins battle for Warrnambool

Saputo wins battle for Warrnambool

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Canadian company Saputo has finally won a majority stake in Victorian dairy processor Warrnambool Cheese and Butter.

Saputo has confirmed to the ASX that it has secured a 52.7 per cent share in WCB, on the day its takeover offer for the processor was set to expire.

The announcement comes after a four-month bidding war between Saputo, Murray Goulburn and Bega Cheese.

Saputo’s offer has now been automatically extended until February 4 under the Corporations Act.