date:Sep 17, 2013
New South Wales-based dairy company Bega Cheese Limited (Bega) has announced that it intends to make an unsolicited off-market $319 million takeover bid for Victorian-based dairy company Warrnambool Cheese and Butter (WCB).
The bid by Bega includes a mix of cash and a share swap that would result in a major merger of the businesses under Begas management.
Bega has offered 1.2 Bega shares and $2 cash for every WCB share, valuing WCB shares at $5.78 per share. This value is 28 per cent above