Bega shares surge on Fonterra move

DataRoom: share surge after Fonterra buys a 6% stake on WCB hopes.

Shares in Bega Cheese (BGA) surged to a record high after the world's biggest dairy exporter, Fonterra Co-operative Group, bought a 6% stake in the New South Wales dairy producer.

At 1100 AEDT, Bega shares were 9.3% higher at $4.82 against a benchmark index fall of 0.35%. In earlier trade Bega shares hit an all-time high of $4.94.

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