Bega Cheese Limited
(ASX:BGA) boss Barry Irvin says he plans to turn his attention to other targets after announcing the company would not pursue Warrnambool Cheese & Butter Factory Co
(ASX:WCB) after its offer closes.
Mr Irvin told media Bega had not decided its next move, despite pressure to side with one of its rivals in the three-way bidding war.
Bega was the first party to bid for WCB, offering about $370 million in September before Canada's Saputo and Murray Goulburn entered the race and pushed the price as high as $538 million.
But Mr Irvin said there came a point when the offer had run its course.
Mr Irvin said the company would consider its options regarding its 18 per cent strategic stake in WCB.
Bega Cheese reported a net profit of $25.4 million in the 2013 financial year.
