Warrnambool Cheese and Butter Factory Co Holdings Limited
(ASX:WCB) has received a takeover offer from Saputo Dairy Australia.
The takeover offer is for $8.85 per share, for all the issued shares that Saputo doesn’t already own.
Canada based, Saputo already owns 88.02% of Warrnambool.
Its offer is also about 25% above Warrnambool's Friday close price of $7.09.
Saputo has received Australian Foreign Investment Review Board approval. The offer will close in early March 2017, unless its extended.
Warrnambool Cheese and Butter Factory Co Holdings Limited
(ASX:WCB) reported a net profit of $20.77 million at 30 September 2016.
