DataRoom AM: Foreign turnaround

Yanzhou has been given the all-clear to maintain its Australian investments, while Saputo may be asked to cough up more for Warrnambool Cheese & Butter.

A fortnight after knocking back a bid for GrainCorp, Treasurer Joe Hockey appears to have made another rash decision by allowing Yanzhou Coal Mining Company to maintain its stake in Yancoal Australia. With reports of the Foreign Investment Review Board telling Yanzhou such a move would not be possible just a month ago, it appears a fresh case of the political interest trumping the national interest.

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