Canadian Dairy Giant Saputo Inc has again lifted its stake in takeover target Warrnambool Cheese & Butter Factory Co.
(ASX:WCB).
Warrnambool says Saputo had increased its stake to 21.392 per cent, from 20.141 per cent.
It comes just a day after news Saputo had lifted its holding in Warrnambool to 20.141 per cent from 17.923 per cent.
Saputo has since confirmed reports it will extend its $9 a share, or $504 million, takeover offer for Warrnambool.
The offer period will close at 7pm Australian Eastern Daylight Time on January 22.
Warrnambool Cheese & Butter Factory reported a net profit of $7.5 million in the 2013 financial year.
