Bega may enjoy a one-horse race

Bega's bid for Warrnambool may go unchallenged by rival suitors, leaving the target little room to manoeuvre.

A clever defence play could be a stretch for takeover target Warrnambool Cheese & Butter Factory, with no whispers of any white knights to step in and challenge suitor Bega.

Local dealmakers say the chance of a counter bid lobbing in from offshore are slim, with no potential buyers approaching major shareholder Bega, which holds 18 per cent of the registry. 

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