Bega's bigger bid still sour

Bega's higher offer for Warrnambool today doesn't match the competing bid for Murray Goulburn, but there are ways it could still come out on top.

You have to admire Bega Cheese (BGA) for persistence. The company has mustered a higher offer for Warrnambool Cheese & Butter Factory Company Holdings (WCB) that is still inferior to a competing bid from Murray Goulburn.

Bega sweetened its initial offer to 1.5 Bega shares and $2 cash for every Warrnambool Cheese shares it doesn’t already own and declared its bid unconditional.

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