Murray Goulburn says its takeover bid for Warrnambool Cheese & Butter Factory Co
(ASX:WCB) is being hamstrung by regulatory requirements.
Murray Goulburn is involved in a three-way battle with Bega Cheese and Canadian dairy giant Saputo for control of WCB.
Murray Goulburn requires the Australian Competition Tribunal to approve its bid on national benefit grounds, a process which Murray Goulburn says could take three to six months.
In the meantime, the Foreign Investment Review Board has already approved the Saputo bid.
Warrnambool Cheese & Butter Factory reported a net profit of $7.5 million in the 2013 financial year.
