Canadian dairy company Saputo has increased its stake in Warrnambool Cheese & Butter Factory Co
(ASX:WCB) to just under 58 per cent.
Saputo says it’s purchased 2.87 million securities for its offer price of $9.20.
It takes Saputo’s shareholding in WCB to 57.695 per cent.
The latest update comes after Saputo yesterday confirmed if holds 52.7 per cent of WCB shares.
Murray Goulburn is expected to make a decision soon about whether it will sell its 17.7 per cent stake in WCB.
Warrnambool Cheese & Butter Factory generated a net profit of $7.5 million in fiscal 2013.
