The acquisition of Murray Goulburn (ASX:MGC) by Canadian dairy giant Saputo has been given the green light from the ACCC.
The go ahead was granted after Saputo agreed to sell its Koroit milk plant.
ACCC Chairman Rod Sims said Saputo’s undertaking to divest the plant remedied the watchdog’s concerns about competition.
The sale of Murray Goulburn is still subject shareholder and Foreign Investment Review Board Approval.
The company will hold its extraordinary general meeting this Thursday the 5th of April.
Shares in Murray Goulburn (ASX:MGC) are trading flat at 95 cents.