date:Jan 17, 2014
f strength: Irvin said the company is not for sale, stressing its corporate statutes contain hurdles to a hostile takeover.
Bega statutes currently limit any single shareholder to a maximum 10 percent stake. If a takeover is offered at a premium to Bega's share price, shareholders can vote to change the statutes - but the vote needs 75 percent approval to pass.
Saputo declined to comment on Bega's share sale. Murray Goulburn, which with a 17.7 percent stake has little hope of reaching the 50.1