Bega won't overpay for WCB: Irvin

DataRoom: Bega chair cites responsibility to shareholders to be cautious.

Barry Irvin, chairman of Bega Cheese (BGA), is not waving the white flag but says he isn’t going to overpay to acquire Warrnambool Cheese & Butter Factory (WCB).

Bega is offering 1.5 of its shares plus $2 cash for Warrnambool for 83% of the Victorian dairy producer it doesn’t currently own.

But the Bega bid, at the close of trading yesterday, was hardly cheered by investors.

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