Murray Goulburn announces delay in ACCC decision

Company News

by Anna Napoli

Murray Goulburn (ASX:MGU) has announced that the ACCC has delayed its final decision regarding the sale of the dairy company to Saputo.

A decision on Saputo’s offer was due tomorrow but the watchdog has postponed its final decision until next Wednesday the 4th of April.

Earlier this month the ACCC voiced concerned that the deal would have a negative effect on competition for farmers milk in Western Victoria.

Subsequently Saputo gave notice of its intention to sell off its interest in the Koroit dairy plant.

Murray Goulburn says it will proceed with the unit holders meeting next Thursday, even though at this stage its not clear whether the sale will go ahead.

Shares in Murray Goulburn (ASX:MGU) are trading flat at 94 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.