Bega to beggar

With Warrnambool Cheese recommending to shareholders a rival bid from Saputo, Bega will be under pressure today.

Bega Cheese (BGA) will be under some pressure today after Warrnambool Cheese and Butter Factory Company (WCB) announced that it is throwing its weight behind a competing bid that values the target company at $392.7 million.

Warrnambool Cheese signed a bid implementation deed with Canadian-listed Saputo as it believes the rival offer is superior to the one proposed by Bega.

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