DataRoom AM: Cheese puff

Murray Goulburn hires professional lobbyists to bolster its Warrnambool bid, while Hockey considers buying a stake in Qantas.

The ongoing battle for control of Warrnambool Cheese and Butter has taken a further twist with Murray Goulburn once again trumping the offers of Bega Cheese and Saputo. The latter, which is favoured by the board, arguably now has the lowest bid on the table. Crucially, it may not hold the luxurious advantage of regulatory approval over Murray Goulburn for much longer if lobbyists get their way.

Elsewhere, the government reportedly mulls an equity stake in Qantas Airways, McAleese Group has a strong first day on the ASX, Nine Entertainment nears its bookbuild and Forge Group negotiates a desperate deal with ANZ Banking Group.

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