Canadian dairy company Saputo has succeeded in gaining control of Warrnambool Cheese & Butter Factory Co
(ASX:WCB), announcing it has a relevant interest in issued shares of over 50 per cent.
Saputo says its voting power in WCB is now 52.702 per cent, up from 47.85 per cent.
The shareholding increase triggers a rise in the offer price to $9.20 and an automatic extension of the offer period by two weeks.
Saputo says the offer price will rise to $9.40 if Saputo attains a 75 per cent holding.
Warrnambool Cheese & Butter Factory generated a net profit of $7.5 million in fiscal 2013.
