Murray Goulburn advises shareholders on sale

Company News

by Anna Napoli

Murray Goulburn (ASX:MGC) has released an explanatory memo to shareholders for the proposed $1.3 billion sale of the business to Saputo.

The company will hold an extraordinary general meeting on the 5th of April 2018 for shareholders to vote on the sale.

Both the directors of Murray Goulburn and the Independent Expert have concluded that the sale is in the best interest of shareholders.

The company says $114 million will be allocated to fund additional milk payments to suppliers.

Murray Goulburns milk intake has stabilized since announcing the improved pricing pursuant to the sale.

Shares in Murray Goulburn (ASX:MGC) are are trading flat at 92 cents.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.